From Wall Street To Red Square: Moscow Exchange Lists BlackRock Bitcoin Futures

The Moscow Exchange has launched Bitcoin futures contracts, marking a significant step in Russia's cautious adoption of cryptocurrencies. These contracts track the price of the BlackRock Bitcoin ETF but are settled in Russian rubles. The quarterly contracts, expiring first in September 2025, are exclusively available to qualified investors like banks and funds. The Bank of Russia approved these products but advises most firms against direct crypto investments. Pricing the contracts in US dollars while settling in rubles insulates Russia from foreign market volatility. This setup allows Russian traders to engage with Bitcoin's price movements without using foreign crypto platforms. Analysts view this as a balanced approach, integrating Russia into the crypto market while maintaining control. The central bank maintains a cautious stance, limiting access to manage potential risks. Sberbank is also developing Bitcoin-linked bonds, traded in rubles without requiring crypto wallets. These initiatives reflect a controlled entry into the cryptocurrency landscape, balancing opportunity with financial stability.