Crypto for All: The initiative that promises to make Bitcoin accessible to everyone
The Silver Castel investment house and the Canadian investment giant "Purpose" signed an exclusive strategic memorandum of understanding to launch Bitcoin and Ethereum based funds in the Israeli capital market to make the crypto field accessible to all investors.
A survey conducted by the company reveals: how many bitcoins do Israelis own?
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29/08/2022
Monday, August 29, 2022, 10:36 am Updated: 10:53 am
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They promise to make the field accessible even to an audience that has not yet been exposed to digital currencies (Photo: ShutterStock)
Silver Castel, the investment house for digital assets, is expanding its activities and reports the signing of a memorandum of understanding for exclusive cooperation with the Canadian investment company Purpose Investments Inc.
which manages assets in the amount of over 14 billion dollars, for the launch of Bitcoin and Ethereum based funds in the Israeli market, including funds and other ETFs related to cryptocurrencies.
Silver Castel, active in the worlds of blockchain and crypto, is working to make investments in ETFs based on Bitcoin and Ethereum accessible to all investors for the first time in the Israeli market.
Subject to signing an agreement and receiving the required regulatory approvals, the exclusive collaboration with the Canadian investment giant Purpose will allow Silver Castel to launch basket funds / ETFs in the field of crypto in the Tel Aviv Stock Exchange, and these will invest, according to the agreement with Purpose at low costs and management fees, in Purpose certificates / ETFs Canadian, which invests directly in Bitcoin and Ethereum, and which are traded on the Toronto Stock Exchange.
Silver Castle will be responsible for initiating and managing the entire process of launching, registering and offering Silver Castle Purpose basket funds in Israel to all investors.
How much Bitcoin do Israelis own?
In the last two years, there has been a growing demand from individuals and companies in the Israeli market to enter the world of digital assets and purchase Bitcoin and Ethereum.
Estimates in the market speak of holdings of over 1.5 billion dollars in digital currencies, and about 200 thousand active Israeli wallets.
According to a survey conducted by Silver Castel among Israeli investors, about 20% of the respondents own or have owned Bitcoin in the past, and about 30% are considering investing in digital currencies in the future.
The ETF, according to Silver Castel's announcement, is an attractive product for all investors in that it enables the purchase of Bitcoin and Ethereum without a required minimum amount, directly through the bank while avoiding the challenges of buying, storing and maintaining the digital currencies.
Rising, falling, intriguing, scary - and above all incomprehensible to most potential investors (Photo: GettyImages, Lightrocket)
on the partners to the transaction
Purpose Investments Inc.
The Canadian investment giant Purpose Investments Inc.
The asset manager of more than 14 billion dollars, which includes five ETF funds in the crypto sector with more than about 1 billion dollars, chose to sign a memorandum of understanding for exclusive cooperation with Silver Castel, after examining the crypto market in Israel.
The Canadian asset management company, which is currently managed by the entrepreneur Som Seif, focuses on innovation and offers its clients a variety of managed investment products.
Purpose's ETF, the Purpose Bitcoin ETF, is the third largest in the world in terms of asset management.
Silver Castle
Silver Castel, the investment house for digital assets, was founded by senior banking and capital market executives in Israel in 2018 and specializes in identifying investment opportunities for institutional and qualified clients.
The company, which began trading this year on the Tel Aviv Stock Exchange, aims to make the field of crypto accessible to as wide an audience of investors as possible, and to allow the Israeli capital market safe and effective exposure to the field of cryptocurrencies.
Silver Castel aims to make the field of crypto investments accessible to the entire Israeli investor public through a Traditional investment from other areas of investment such as funds and ETFs. In doing so, the company allows the entire investing public easy, convenient and relatively cheap exposure to the field of crypto investments.
Silver Castel currently manages two funds with Bitcoin, the leading digital currency, as a base asset. In addition, the company intends to allow its customers to make crypto investments advanced (Defi and NFT) and trade passive investment instruments linked to digital currencies.
The company is currently managed by CEO Eli Mizroh, an expert in economics and finance in the blockchain field; Chairman Zvi Ziv, former CEO of Bank Hapoalim; Chief Investment Officer Chen Munitz, who has more than 25 years of investment management experience; Director Chief Operating Officer Rami Binish, former executive at the Playtech gaming group, and CFO Dorit Kreiner, former CFO at the biotech company Avogen, which is traded on the Nasdaq.
Eli Mazroh, CEO of Silver Castel. Excited about the launch (Photo: Eli Cohen)
"A strategic move of the utmost importance"
Eli Mazroh, CEO of Silver Castel
said: We are excited to be the first in Israel to launch portfolio funds based on digital assets to be distributed in the Israeli market. This is a strategic move of the utmost importance, which will help make digital assets accessible to the Israeli public, through traditional investment tools that are regulated and are a safe and convenient way for investment.
We see great potential in the collaboration with the Canadian company Purpose Investment in light of the respectable reputation it has gained over the years, its many successes and the amount of assets it manages. This is a certificate of success for Silver Castel that the investment giant of its kind chooses us as a business partner.
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