Sberbank Asset Management announced the launch of a mutual investment fund called Sberbank – Blockchain Economy. This is the first fund in Russia to invest in the blockchain industry.
“This is the first exchange-traded fund on the Russian stock market that gives an investor the opportunity to make money on the blockchain economy without the difficulties associated with the direct development, purchase, storage and sale of digital assets,” the press release emphasizes.
The fund’s shares will follow the Sberbank Blockchain Economy Index. The index includes stocks and bonds of companies working in the field of blockchain and cryptocurrencies. The index includes shares of Coinbase, Digindex and Galaxy Digital and a number of other companies.
The creators of the mutual fund emphasize that blockchain is used in a wide variety of areas, not just cryptocurrencies. The technology is used to protect personal data, confirm copyrights, create IoT platforms, and so on.
“There are hardly any people left who have never heard of blockchain. This technology is developing so quickly and dynamically that it is simply beyond the power of an ordinary investor to keep track of it. Direct investments in crypto assets are associated with high risks, it is difficult to independently assess them. Therefore, we propose investing not in cryptoassets, but in companies that ensure the development of the blockchain, “said Evgeny Zaitsev, CEO of Sberbank Asset Management.
A few days ago, the Indian regulator warned local mutual funds against investing in crypto assets pending the development of regulation.
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