Event Summary
On June 4, 2025, the Moscow Exchange (MOEX) – the largest exchange in Russia – officially launched Bitcoin futures contracts for qualified investors. This is an important step that helps the Russian market access Bitcoin prices indirectly, amidst ongoing restrictions on direct investment in cryptocurrencies.
Details About Bitcoin Futures Contracts in Russia
Operating Mechanism
Cash-settled payments in currency #Rub .
Futures prices reference the iShares Bitcoin ETF (IBIT) listed on the US exchange (each IBIT is equivalent to 0.00068 BTC).
The first contract expires in September 2025, with the nominal value calculated in USD/BTC but converted to RUB upon settlement.
Participants
Exclusively for professional investors (as per the regulations of the Central Bank of Russia).
Large financial institutions like #Sberbank are also preparing to launch similar products (exchange-traded notes based on Bitcoin prices).
Legal Context
In May 2025, the Central Bank of Russia officially permitted the issuance of securities and derivatives related to crypto.
Bitcoin futures are an alternative to direct ownership of $BTC – which is considered high risk in Russia.
Impact on the Global Crypto Market
Russia joins the trend: Following the US, Europe, and Asia in integrating Bitcoin into the traditional financial system.
Increased liquidity: Cash flow from Russian institutions could push global Bitcoin futures trading volume higher.
Legal barriers: Although futures are accepted, holding physical BTC remains restricted for most users.
Expert Opinion
According to analysts, this move reflects 3 major trends:
Demand for hedging risks from Russian institutions before RUB/USD exchange rate fluctuations.
Competitive pressure from the international market forces Russia to gradually open up to crypto.
A stepping stone to test before expanding to individual investors.
⚠️ Note: Crypto derivative products carry leverage and price volatility risks.