Six mutual funds that track Bitcoin prices are scheduled to launch in Israel on December 31, following approval from the Israel Securities Authority.

This approval ends a two-year and application process by financial institutions.

The funds will launch simultaneously and differ in their investment strategies.

Some will track BlackRock’s IBIT spot Bitcoin ETF, while others will use indices from the S&P or the Chicago Stock Exchange.

This launch marks a significant step for Israel’s financial market amid the global rise of Bitcoin-related financial products.