Moscow Exchange debuts derivatives tracking BlackRock’s IBIT
Quick Take
- The platform launched BTC futures contracts for select traders on Wednesday.
- Russia’s central bank recently allowed local firms to offer crypto derivatives to qualified investors.
Russia's Moscow Exchange has officially launched cash-settled bitcoin futures trading for accredited investors, according to Russian outlet TASS. The bitcoin contracts are benchmarked to IBIT, the U.S.-listed spot bitcoin exchange-traded fund issued by BlackRock.
Quoted in U.S. dollars and settled in Russian rubles, the first set of contracts will expire in September 2025. The futures are based on IBIT, a U.S.-listed ETF, but are structured as derivative contracts, not direct trading of the ETF shares themselves.
The launch follows recent guidance from the Bank of Russia allowing licensed financial institutions to offer crypto-based derivatives to qualified investors. While retail access remains restricted, Russian authorities have begun cautiously expanding crypto exposure for institutional players.
Russia's central bank, alongside the Ministry of Finance, is reportedly developing a government-backed crypto trading platform for professional investors. Sberbank, Russia’s largest state-owned lender, also disclosed plans to offer structured bonds tied to cryptocurrency price movements, signaling increased institutional appetite for blockchain-linked products despite regulatory hurdles.
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