Sberbank and Alfa-Bank will offer their clients shares in a special fund that will provide access to the six most popular cryptocurrencies.
Sberbank, the main state bank, and Alfa Bank, the largest private bank in the country, are planning to enter cryptocurrency trade using the investment fund AddCapital, the National Depository for Securities and the IB Group.
The vice-president of Sberbank said:
"We want to offer our clients a completely transparent way to invest in digital resources, in full compliance with the regulations that will allow them to invest in the product they are interested in Russia."
Moreover, Anton Rachmanov, head of the Alfa Bank banking branch, added: "Our goal is to accelerate the recognition of digital assets as legal financial assets as soon as possible"
It is added that AddCapital, an investment fund that participated in the recent pre-sales of Telegram tokens, is responsible for the technical solution of the project. CEO Alexey Prokofyev said that in the investment process they will be buying part of this fund. The portfolio will include the six most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. These cryptocurrencies will be reviewed four times a year, and their proportions will be balanced by the trading algorithm. "The shares are liquid and the client can send cash at any time," said Prokofyev.
The National Settlement Deposit, which is part of the Moscow Stock Exchange Group, will act as a depositary.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has bounced from the golden trend line support and made a new local high at the level of $6,700. It looks like the first resistance zone between the levels of $6,587 - $6,687 might be violated soon, so the price will be able to move towards the next technical resistnace at the level of $7,000. The key resistnace zone for the bulls is still seen between the levels of $7,752 - $7,890.
