Finam will offer structured notes tied to BlackRock’s Bitcoin ETF starting February 17. This initiative aims to provide qualified investors in Russia exposure to spot Bitcoin ETFs, marking a significant milestone in the country’s investment landscape.

The structured notes will be denominated in Russian rubles, with potential yields of up to 20% if the ETF price at maturity exceeds the launch price. Investors are required to purchase a minimum of 200,000 rubles worth of notes, with a brokerage commission of 1%.

Despite no direct legal restrictions, the launch of these structured notes raises regulatory questions within Russia’s ambiguous crypto laws. Observers note that Russia’s existing legislation does not fully recognize crypto assets as securities, complicating the legal status of such investment products.