Russian investors flock to Bitcoin, Ethereum funds as crypto adoption gathers pace – DL News
- Russians spend over $27 million on Bitcoin, Ethereum funds since June-July launch.
- Funds are operated by Moscow Exchange and based on BlackRock ETFs.
- Central bank ‘unbothered’ by sharp rise in popularity.
Crypto-keen Russians are spending millions of dollars on domestic financial products based on BlackRock Bitcoin and Ethereum exchange-traded funds.
That’s according to the country’s central bank, which, according to the Russian outlet RBC, says that the worth of individual investments in cryptocurrency futures contract funds on the Moscow Exchange, the MOEX, currently totals over $27 million.
The majority of investors are “building small portfolios” of shares in the funds worth up to $6,430, the bank said. But the largest…
