The head of the financial regulator answered the question about the launch of the first exchange-traded fund in the United States, based on Bitcoin futures
The Bank of Russia is not ready to admit the exchange-traded fund (ETF) based on bitcoin futures, the head of the Central Bank Elvira Nabiullina said during a press conference.
“No, I'm not ready,” she said, answering the question whether the Russian regulator is ready to follow the example of the US Securities and Exchange Commission (SEC), which allowed ETFs on Bitcoin to be listed on the exchange.
On October 19, the Bitcoin Strategy ETF started trading on the New York Stock Exchange (NYSE). In two days, assets under the fund's management exceeded $ 1 billion. This is a record value, the previous maximum was held for almost 18 years.
In the summer, the Central Bank issued a recommendation according to which Russian exchanges should not allow securities of Russian and foreign issuers to trade, payments for which depend on cryptocurrency rates, prices of foreign digital financial assets, changes in cryptocurrency and cryptoasset indices, as well as the cost of crypto derivatives and cryptocurrency securities. funds.
In addition, the financial regulator recommended that asset management companies not include these assets in mutual funds, and brokers and trustees should refrain from offering pseudo-derivative financial instruments with such underlying assets to unqualified investors.