Finam will launch investment products based on Bitcoin ETF from BlackRock

Russian investment company Finam has announced the launch of bonds linked to the iShares Bitcoin Trust ETF (IBIT) from BlackRock. This is the first time that qualified investors in Russia will have access to spot Bitcoin ETFs.

Details of the new investment product from Finam

• Launch date:February 17, 2025.
• Investment period: 6 months.
• Currency: Russian ruble, calculation of profitability in dollar equivalent.
• Expected return: Up to 20% in dollarsif the IBIT price at maturity is higher than the initial one.
• Minimum deposit: 200,000 rubles (~$2,000).
• Broker commission: 1% of the amount in rubles.

Previously, Finam has already provided clients with the opportunity to invest in IBIT ETF, but the new product will allow for more flexible management of risks and potential profits.

The possibility of issuing such bonds in Russia raises legal questions. The Law of the Russian Federation “On Digital Financial Assets” does not consider cryptocurrencies as securities, however, structured notes are subject to regulation of the securities market.

Despite the absence of a direct ban on linking structured bonds to Bitcoin ETFs, there is no clear legislative framework for such instruments yet. However, Finam continues to expand its line of crypto products and is considering the possibility of issuing similar notes tied to Ethereum ETF.

Russian regulatory policy regarding cryptocurrencies

In recent months, Russian authorities have been softening their stance towards digital assets. In December 2024, the Ministry of Finance of the Russian Federation confirmed that Russian companies can use Bitcoin and other digital assets for international payments.

The launch of investment products based on ETF demonstrates growing interest in crypto-assets in Russia and may become an important step towards the development of digital financial instruments in the country.