Owned by Sberbank, УК Sber Asset Management launched an exchange-traded fund (ETF) “Sber — Blockchain Economy”. It targets shares of companies whose main business is linked to distributed ledger technology.
“This is the first ETF on the Russian stock market that gives investors the opportunity to profit from the blockchain economy without the complexities of directly developing, buying, storing and selling digital assets,” the statement said.
Units of the fund trade under the ticker SBBE. According to the press release, they can be purchased through any Russian broker. The fund’s currency is the US dollar. The unit price starts at 10 rubles.
The ETF tracks the SberCIB index “Sber Blockchain Economy.” In addition to blockchain company shares, the basket also includes securities of manufacturers of mining equipment, software developers, and firms providing consulting services in the field.
For example, among the target issuers are the Bitcoin exchange Coinbase and the crypto bank Galaxy Digital.
In October, the head of the Central Bank of Russia, Elvira Nabiullina, said that the regulator не готов допустить на местный рынок bitcoin-based exchange-traded funds.
Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis.