Investors get exposure to international crypto companies such as Coinbase and Galaxy Digital.

Sberbank, a leading Russian bank has launched an ETF titled “Sber-Blockchain Economy,” that offers exposure to the top crypto companies across the globe including Coinbase (NASDAQ: COIN) and Galaxy Digital (TSE: GLXY). The ETF tracks the Sber Blockchain Economy Index developed by inhouse company SberCIB, and is the first product of its kind in Russia. (CryptoPotato)

Russians can now invest in the digital asset market without having to directly hold such assets in their custody.

The Sber Blockchain Economy Index comprises companies active in blockchain technology, firms producing hardware and software for mining cryptocurrencies and even entities that provide consulting services in the sector.

However, Evgeny Zaitsev, General Director of Sberbank Asset Management, made it clear in a statement that investment in cryptos was “associated with high risks,” and that it was “difficult to independently assess them.”

“Therefore, we propose to invest not in crypto assets, but in companies that ensure the development of blockchain technologies,” Zaitsev added.

“There are hardly any people left who have never heard of blockchain. This technology is developing so quickly and dynamically that it is simply beyond the power of an ordinary investor to keep track of it,” he said, and that an exchange-traded fund was available to anyone due to its simplicity and low entry threshold.

Russian investors can buy the ETF (which is dollar denominated) by paying in rubles through any Russian broker or using the SberInvestor app.

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