Investment company Finam will offer qualified investors a six-month structured bond with the underlying asset being BlackRock’s Bitcoin-ETF, according to Vedomosti, citing a company representative.
Finam’s bond will be denominated in rubles, with returns calculated in dollar terms based on the Central Bank’s exchange rate. The minimum investment amount is 200,000 rubles, with a brokerage fee of 1%.
The instrument includes a capital protection option.
“If the rate drops by 30%, the investor will receive the invested capital. In the event of a more significant correction, the loss will be calculated not from the starting price, but from the protective barrier at 70% of the initial cost of the structured bond,” Finam representatives explained.
Potential risks include lack of income, reduced liquidity, market downturns, and default.
The company plans to launch a product linked to an Ethereum-ETF in the future.
Earlier, ForkLog reported that the DeFi development project based on Bitcoin, Avalon Labs, is exploring the possibility of filing an application with the SEC to create the industry’s first ETF backed by digital gold debt.
In January, Nasdaq, on behalf of BlackRock, filed an application to amend the structure of the iShares Bitcoin Trust to allow for the redemption of assets in kind.