Moscow Exchange Unveils Bitcoin Futures Based on BlackRock’s IBIT ETF, But Access Remains Restricted
The Moscow Exchange (MOEX) has introduced futures contracts based on BlackRock’s iShares Bitcoin Trust ETF (IBIT), marking a notable development in Russia’s crypto investment space. However, these new offerings are only available to accredited investors.
The IBIT ETF, which holds over 660,000 BTC and manages $72.4 billion in assets, provides a regulated way to gain exposure to Bitcoin. Its integration into MOEX’s platform reflects Russia’s cautious but evolving approach toward crypto-linked financial products.
These futures contracts, which track the IBIT ETF’s price movements, are denominated in U.S. dollars but will be settled in Russian rubles. They are set to expire in September 2025 and are structured for quarterly trading. Notably, this approach allows qualified investors to indirectly invest in Bitcoin without owning the cryptocurrency itself.
Retail investors, however, are excluded from participation. The exchange requires investors to be accredited, with qualification assessments beginning June 23. This has led to pushback from individual traders who feel sidelined. Some critics argue these are not “real ETFs” and prefer using platforms like Binance for direct crypto trading.
Russia’s central bank continues to limit access to digital assets for the general public while allowing seasoned investors to participate in structured crypto products. This cautious stance is intended to manage risk and maintain regulatory oversight.
The move is part of a broader trend in Russia’s financial sector, where institutions such as Sberbank and T-Bank have also begun launching crypto-related investment products. Despite the restrictions, interest in crypto among Russian investors is growing, and products like IBIT-linked futures represent an incremental step toward broader adoption—albeit within a tightly controlled framework.
