Russia’s Largest Stock Exchange Launches Bitcoin Futures Trading

Moscow Exchange (MOEX), Russia’s largest stock exchange, has officially launched Bitcoin futures trading for qualified investors. This development aligns with MOEX’s strategy to diversify its product offerings and cater to the growing interest in cryptocurrency investments.

MOEX Debuts Bitcoin Futures Tracking BlackRock’s IBIT

According to a media report, the futures contracts are benchmarked to the U.S.-listed spot bitcoin exchange-traded fund, IBIT, issued by BlackRock. Notably, the new investment product is accessible exclusively to accredited investors. MOEX plans to introduce qualification testing starting June 23.

“Trading in this new product will begin on June 4, 2025, and will be exclusively available to qualified investors. The quote with IBIT ticker will be traded in US dollars per lot, with settlements processed in Russian rubles. Quarterly series will be offered for trading with expiration in September 2025,” the exchange noted.

This setup enables MOEX to offer investors exposure to IBIT’s Bitcoin price tracking without requiring them to hold the underlying asset. This approach mitigates the risks associated with the custody of digital assets while providing exposure to Bitcoin’s price dynamics.

However, many crypto investors are unimpressed by this development. This is because products like IBIT ETF futures are limited to accredited investors, thus excluding retail participation. As a result, retail investors may turn to riskier, unregulated alternatives.

Russia’s Regulatory Landscape

Moscow Exchange’s IBIT futures trading debut is the latest crypto investment product launch in Russia. Last month, the Bank of Russia authorized financial institutions to offer crypto products to qualified investors. Other commercial banks in the country, including Sber and T-Bank, have begun offering investment tools tied to cryptocurrencies, such as Bitcoin.

Despite the growing interest in cryptocurrency investments, Russian authorities are cautious about direct crypto investments. They continue to advise against retail participation in digital asset markets, citing ongoing concerns about risks.

As part of its cautious approach to digital finance, the Russian government is reviewing a central bank proposal for a tightly controlled pilot program that would restrict access to crypto transactions for specific groups of investors.

Meanwhile, MOEX’s recent move signifies a significant step towards integrating digital assets into Russia’s traditional financial infrastructure. This development could attract institutional investors seeking exposure to cryptocurrencies within a familiar regulatory framework.

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