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Recently, the largest bank and financial services provider in Russia has introduced the country’s first blockchain ETF securities. It can be a plentiful opportunity for stock market investors. Sberbank has named the product as “Sber-blockchain economy” that will regularly monitor and track the Blockchain Economy Index.
The new product will be providing varied services to the investors in the stock market. This newly introduced Sber-blockchain economy will track the various industries active in the cryptocurrency sector.
The introduction of blockchain ETF securities will assist the investors to directly earn profits from the crypto sector. The index will track the producers, miners, issuers of the cryptocurrency that will help the investors to make investment decisions. Popular names in the crypto sector like Coinbase, Galaxy Digital, and Digi index will be tracked by the
state-backed institution. Producers of hardware and software producers in the crypto sector will also go through the tracking by SBBE that will provide handy insights to the investors before making an investment.
The denomination for investment in US Dollars but investors can also make investments via Rubles with a minimum value of 10 Rubles per share. This regulated introduction of Blockchain ETF securities will certainly help in bridging the gap between the crypto and state. All the securities of the crypto industries will be held and monitored by the SBBE. One major benefit this introduction of Blockchain Exchange Traded Fund or ETF securities brings for the users is that they do not need to be directly involved in the mining, production, or issuing of the cryptocurrency. Additionally, the SBBE will also monitor the consultancy entities involved in the crypto sector.
As the crypto market is vulnerable to unethical activities, the introduction of the first Blockchain ETF securities in Russia may yield two benefits. Firstly, it will open new investment opportunities for the investors that may benefit the economy in the long run. Secondly, it will bridge the gap between the layman and crypto markets. When crypto securities are regulated by the government, common people will gain more knowledge and education about the crypto market from reliable sources.