A trio of Crypto Funds Launched In Israel- Silver Castle Ltd., Israel’s first dedicated cryptocurrency investment firm for institutional and accredited investors, launched two funds this month. Similarly expects to have $50 million under management by the end of the year.

The launch comes after a bad year for Bitcoin. Which has fallen more than 70 percent from a record high last December. Currently, there are more than 370 crypto funds managing as much as $10 billion in assets. According to Autonomous Research, a minute amount in the investment universe. That hasn’t deterred Silver Castle.

Gadi Isaev, the founding partner of the Israeli Blockchain Association, called Silver Castle’s launch “a landmark event for the entire Israeli market”. As its team is composed not just “of leaders of the Israeli financial industry, but its pioneers.”
“We spent close to a year building a robust infrastructure for managing other people’s money. At the level of institutional grade with very, very high security,” Chief Executive Officer Eli Mizroch said.

Blockchain Potential

A trio of Crypto Funds Launched In Israel-The company’s lineup includes Zvi Ziv, former chief executive officer of Bank Hapoalim Ltd., Israel’s largest bank by assets; and Gabriella Ravid, founder and former CEO of Psagot Ofek Investment House, the country’s largest investment fund.

“There is a lot of potential in using blockchain and everything is going to try and move there,” said Ziv, who ran Bank Hapoalim for almost six years. “I believe herein lies the biggest potential in the financial world.”

Israel’s blockchain ecosystem was important in the group’s building of the investment house, Mizroch said. The industry today numbers 129 companies, up from 42 in 2015, according to industry promoter ‘Startup Nation Central’. Forty initial-coin offerings have come out of Israel in the last few years. Three of them among the 20 largest ever, Mizroch said.

0 0 vote
Article Rating

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments