Financial Tribune - The value of exchange-traded funds stood at 254.4 trillion rials ($1.7 billion) at the end of the first month (March 21-April 20) of the current fiscal, according to the Central Securities Depository of Iran.

An ETF is a type of fund that owns underlying assets (shares, stocks, bonds, oil futures, gold bullion, foreign currency, etc.) and divides ownership of those assets into shares.

According to CSDI, there are 38 ETFs operating in the capital market. Arman Parand Mapna project fund is the largest ETF valued at 77.93 trillion rials ($517.4 million).