Bitcoin ETF trading

Bitcoin ETF trading preparations aren’t done yet, new claims from the governor

Elvira Nabiullina, the head of regulators in Russia, has revealed that the central bank of Russia isn’t ready for Bitcoin ETF trading. The bank of Russia has a hard stance on crypto and it has been reconfirmed after the debut of Bitcoin ETF in the US.

The business news portal RBC has published a statement from a press conference done by the head of the regulators in Russia, Elvira Nabiullina. She responded to a question asked by a reporter that whether the Russian monetary policy regulators are going to follow the US SEC for allowing Bitcoin ETF trading. She clarified that the central bank of Russia isn’t ready to provide a permit for Bitcoin ETF trading yet.

Bitcoin ETF trading
The conference done by the head of regulators of Russia,Elvira Nabiullina

Bank of Russia is not ready for Bitcoin ETF trading:

Bitcoin ETF trading started when ProShare Bitcoin Strategy ETF launched its first investment fund on October 19, when it reached $1 billion before trading closed. Valkyrie’s Bitcoin Strategy ETF has also been launched on the Nasdaq. These examples of Bitcoin ETF trading have been very good for the crypto market but the central bank of Russia has always had a hardline stance and advised people to stay away from crypto.

The central bank of Russia has advised the Russian Stock Exchange not to get involved in the trading of crypto tools and their prices.  The recommendation issued by the regulator also insisted that asset managers should not include cryptocurrency assets in mutual funds. The CBR further called on brokers and trustees to refrain from offering “pseudo-derivatives with such underlying assets to unqualified investors

The Russian policy for not allowing Bitcoin ETF trading was criticized by a Russian billionaire, Oleg Deripaska. The billionaire is a huge supporter of Bitcoin ETF trading and has demanded to embark on the El Salvador policy of legalizing BTC.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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