Russian Retail Brokerage Finam Plans to Issue Notes Linked to BlackRock’s Bitcoin ETF

the Russian retail brokerage company Finam will launch an investment product linked to the Bitcoin Trust ETF (IBIT) from BlackRock's iShares on February 17, allowing Russian qualified investors to have the first opportunity to access a physically backed Bitcoin ETF. The IBIT bonds to be issued by Finam will be denominated in Russian rubles, and the yield will be calculated in US dollars based on the exchange rate of the Russian Central Bank. If the price of the Bitcoin ETF at maturity is at least one basis point higher than the price at the product launch, investors will receive a USD yield of up to 20%.