Russian Retail Brokerage Finam Plans to Issue Notes Linked to BlackRock’s Bitcoin ETF

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ODAILY
02-13
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Odaily Odaily reports that Russian retail brokerage firm Finam will launch an investment product linked to the BlackRock iShares Bitcoin Trust ETF (IBIT) on February 17, giving Russian qualified investors their first opportunity to access a spot Bitcoin ETF. The IBIT bond to be issued by Finam will be denominated in Russian rubles, and the yield will be calculated in US dollar equivalent based on the exchange rate of the Central Bank of Russia. If the price of the Bitcoin ETF at maturity is at least one basis point higher than the price at the time of the product launch, investors will receive a yield of up to 20% in US dollars. (Cointelegraph)

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