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First blockchain ETF launched by Sberbank of Russia

First blockchain ETF has been launched by the banking giant of Russia for the country’s investors. This new product of the banking giant holds the securities of firms dealing with the crypto realm.

A lot of new products and initiatives are being launched in the crypto space from the beginning of the new year. Russia has also seen a wave of crypto adoption in the previous year. The country is working on crypto regulations. The country is also putting a lot of effort to stop unlicensed crypto mining. The largest banking firm, Sberbank has launched the first blockchain ETF in Russia to provide users easy access to the crypto realm.

Sberbank launches the first Blockchain ETF in Russia:

The banking giant of Russia has announced the launch of the first blockchain ETF. The firm has named this new product Sber-Blockchain Economy. The announcement further added that they want to provide Russian investors with an opportunity to invest in the crypto space without getting involved in the sale of digital assets, storage, and development. The firm has the securities from the firms exposed to crypto and technologies.

First blockchain ETF

Sberbank emphasized that its blockchain economy ETF (ticker: SBBE) is the first of this kind on the Russian stock market. The fund’s currency is U.S. dollars but investors can buy shares with Russian rubles through the Sberinvestor application or with the help of any Russian broker, the bank detailed. The price of shares starts at 10 rubles.

In October, the head of the Central bank of Russia has expressed that the Russian Federation and monetary authorities are not prepared to allow BTC ETF trading.

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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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