On June 5, 2025, the Moscow Exchange (MOEX) introduced Bitcoin futures contracts, marking a significant step in Russia's engagement with cryptocurrencies. These contracts are designed to track the price of the BlackRock Bitcoin ETF, which has amassed over $72 billion in assets. (Source: Market Insider, June 5, 2025)
The futures contracts will be priced in US dollars but settled in Russian rubles. This structure allows local traders to speculate on Bitcoin's price fluctuations without directly using foreign crypto platforms. The first contracts are set to expire in September 2025. (Source: Market Insider, June 5, 2025)
Only qualified investors, including major banks and financial institutions, are permitted to trade these futures. The Bank of Russia approved these products in May 2024, while advising most firms against direct crypto dealings. Sberbank, Russia's largest bank, is also developing crypto-based products, such as structured bonds linked to Bitcoin's price, for select clients. (Source: Market Insider, June 5, 2025)