
On Dec. 31, Israel’s asset managers will launch six mutual funds tracking Bitcoin’s price movements.
Six Bitcoin-tracking funds are set to launch in Israel next week following the recent approval from the Israel Securities Authority.
According to local media reports, the funds will mirror Bitcoin’s (BTC) price movements through various indexes and strategies and will be available for purchase at banks and investment firms starting Dec. 31.
Some of the new funds will track exchange-traded funds (ETFs) launched in the United States, such as BlackRock’s iShares Bitcoin Trust ETF (IBIT). One of the funds will be actively managed to beat the cryptocurrency’s performance.
Increased emigration from Israel has led to fears of a brain drain.
A year on from the start of the Israel-Hamas war, the Israeli blockchain industry is facing the challenges of widening geopolitical unrest in the region, with some talent “hesitant to consider” roles within its borders.
Despite this, Israeli business leaders who spoke to Cointelegraph were optimistic about the future of the country’s blockchain industry.
An August report from Statista shows 60,000 Israelis had emigrated in the previous 24 months from May. The business statistics platform also noted a 25% increase in emigration from February 2023.