Sber, the government-backed company and Russia’s largest bank, announced that it has launched a blockchain-focused exchange-traded fund (ETF) that will track the performance of major crypto companies like Coinbase and Galaxy Digital.
Sber Asset Management, Thursday, December 29 The new day in the post announced on the official site of ETF including companies that provide hardware and software for mining and crypto export blockchain and crypto industry companies stated that it will cover
“Sber — Blockchain EconomyThe fund named ” SBBE will be processed under the code. ETF, subsidiary of Sber SberCID developed by an anonymous index will follow. SBBE portfolio, the largest stock exchange in the USA Coinbase and Mike Novogratz’s investment firm Galaxy Digital Including the world’s largest crypto companies.
Fund to be traded under the code SBBE main currency dollar it will be. sber, Russian ruble to investors who want to buy shares with SberInvestor application orany other Russian stock market” will offer this opportunity. Share prices 10 rubles (from $ 0.013) will begin.
According to the announcement, Sber’s ETF “The first ETF in Russia that will allow investors to make money by eliminating the hassle of developing, buying, holding and selling digital currencies directly‘ will feature.
CEO of Sber Asset Management Evgeny Zaitsev about the blockchain-focused ETF launched;
It is difficult to tackle it on your own, as direct investments in crypto assets involve great risks. That’s why we propose to invest in companies that focus on blockchain technologies, not crypto.
said. The CEO also said that the new ETF “everyoneHe added that it can be used by ”.
By Koin Bulletin, recently manager of Sber Asset Management Vasily Illarionov‘Fame blockchain ETF plan description was given. Illarionov, the fund Central Bank of Russia He said that he would not enter the restrictions and that they could offer this service to individual users.
On top of what we reported earlier, Central Bank of Russia, mutual funds bitcoin and other cryptocurrencies and prohibited him from providing this service for investors.