According to a report allegedly published by the Israeli journal Calcalist on Wednesday, six Bitcoin mutual funds are anticipated to start operations in Israel within the next week. We made this prediction. The published article contained this information. Based on the gathered information, the article reportedly went live on Wednesday.
During the discussion, we extracted this information from the article under consideration. We can use the previously mentioned comment to clarify this forecast. This is a feasible task. This is a response to the license recently granted by the Israel Securities Authority (ISA) in the previous week. The purpose of this answer is to offer a much more specific explanation.
Six Bitcoin Funds Launch
There are six joint funds for the cryptocurrency that Satoshi Nakamoto created. The news says that they will start trading on December 31. BtcNewz was the first to post a translated news story. You can use investment funds run by Migdal Capital Markets, Phoenix Investment, More, Ayalon, IBI, and Meitav.”The investment firms have been pleading for more than a year for ETFs to be approved,” an unnamed investment official told the news source. They began giving out information about Bitcoin funds in the middle of the year.
Trump’s Crypto Revolution
The news about Israel’s mutual funds coincides with a decline in Bitcoin’s value, which had previously surged due to the 2024 U.S. election. Thecoin’s price hit an all-time high of $108,000 on December 16 as people hoped President-elect Donald Trump would make big changes to how Crypto is regulated in the US. The investor from New York has even more reason to support fair blockchain rules because he helped start his family’s cryptocurrency platform, World Liberty Financial, earlier this year. “We will have rules,” Trump said at the Bitcoin 2024 Conference last summer.
But from now on, those who love your industry, not those who despise it, will write the rules. The former reality TV star has long backed crypto-friendly U.S. policy and has promised to replace Gary Gensler as head of the US Securities and Exchange Commission when he takes office again. Since then, Gensler has said he is resigning from his job as a federal supervisor. Trump has chosen former SEC commissioner Paul Atkins to lead the government office and is expected to replace Gensler.
Atkins is the CEO of Patomak Global Partners and has clients in the Crypto sector. People in the Crypto community think he will benefit the whole digital asset sector. “Paul is a proven leader for sensible rules,” Trump wrote on Truth Social not long ago. “He believes in the promise of strong, new capital markets that listen to investors and give us the money we need to make our economy the best in the world.”
Also Read: Bitcoin ETF Exodus Triggers Market Shift in 2024
Summary
Six Bitcoin joint funds, made by investment firms like Migdal Capital Markets, Phoenix Investment, More, Ayalon, IBI, and Meitav, are set to start on December 31 after getting approval from the Israel Securities Authority (ISA). This is according to an Israeli story from Capitalist. BtcNewz was the first to translate the news. This event coincides with the fluctuations in Bitcoin’s price, which regulators anticipate due to Trump’s leadership.
Trump has long backed policies that are beneficial for cryptocurrencies. He has promised to replace Gary Gensler at the SEC with Paul Atkins, who used to be a commissioner and is the CEO of Patomak Global Partners. As he said at the Bitcoin 2024 Conference and in interviews on Truth Social, Trump’s program includes fair blockchain rules. Trump is also involved in cryptocurrency because his family’s cryptocurrency company, World Liberty Financial, was launched.
