Key Takeaways
- Moscow Exchange launched Bitcoin futures tied to BlackRock’s IBIT, available for qualified investors.
- The futures contracts are settled in Russian rubles and expire in September 2025.
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Russia’s largest trading venue, the Moscow Exchange (MOEX), has introduced futures contracts on BlackRock’s iShares Bitcoin Trust (IBIT), offering regulated exposure to the world’s most prominent Bitcoin fund, the firm said in a June 4 press release.
In accordance with Russian law, only qualified investors can trade the contracts, which are quoted in US dollars and settled in Russian rubles. Rather than offering direct exposure to IBIT shares, the contract is structured as a derivative that mirrors the ETF’s price performance.
IBIT, launched in January 2024, has rapidly climbed the ranks of global ETFs, now being part of the 25 largest ETFs by assets, even though it’s barely over a year old, Bloomberg ETF analyst Eric Balchunas said in a June 3 statement.
As of June 3, BlackRock’s Bitcoin ETF surpassed $70 billion in assets under management, according to its official website. Data from Farside Investors shows IBIT has pulled in more than $48 billion in net inflows since launch.
Bank of Russia authorizes banks to offer crypto products to accredited investors
The launch follows a series of positive developments in Russia’s crypto landscape. The Bank of Russia has recently authorized financial institutions to provide accredited investors with crypto investment products, including derivatives and digital financial assets.
While these offerings must not include the actual delivery of crypto assets, and the central bank continues to advise against direct investment in crypto, the decision signals a growing openness toward regulated exposure.
Following the central bank’s announcement, T-Bank introduced Bitcoin-related investment options for accredited investors, enabled by the tokenization platform Atomyze.
On May 30, Sber, Russia’s largest bank, launched a new Bitcoin-linked bond product for qualified investors in the over-the-counter market. The product tracks Bitcoin’s price in relation to the US dollar-to-ruble exchange rate and is expected to be listed on the Moscow Exchange.
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