A new way to profit from Bitcoin's growth without directly buying the cryptocurrency will soon appear on the Russian market. Finam will soon present a six-month structured bond with double capital protection to qualified investors. The underlying asset of this bond will be a Bitcoin ETF, which is a spot exchange-traded fund.
On February 12, the price of Bitcoin fell below its historical maximum of $100,000 and is around $95,000. However, the price of the most popular cryptocurrency has more than doubled over the past year.
According to TrandingView, there are currently 11 Bitcoin ETFs available. Finam uses the iShares Bitcoin Trust ETF (IBIT), launched by BlackRock in the summer of 2023. This ETF has grown by more than 80% over the past year.
In the future, Finam plans to launch a product linked to the Ethereum altcoin ETF, according to Anton Dorodnev, Head of Innovative Products and Financial Engineering at Finam.
In November 2024, when the value of Bitcoin increased significantly, Russia saw a noticeable increase in demand for cryptocurrency mining equipment. According to sellers and mining companies, sales volumes have increased two to three times compared to previous months.
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