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Moscow Exchange Launches Bitcoin Futures for Qualified Investors

Sberbank, Russia’s largest bank, is also launching bitcoin futures and structure bonds tied to BTC.

By Francisco Rodrigues|Edited by Parikshit Mishra
Jun 4, 2025, 12:09 p.m.
moscow (CoinDesk Archives)
moscow (CoinDesk Archives)

What to know:

  • Moscow Exchange launched bitcoin-linked futures contracts, only available for qualified investors.
  • Futures are tied to the value of the iShares Bitcoin Trust ETF, quoted in U.S. dollars, and settled in Russian rubles.
  • The launch follows the Bank of Russia's approval of crypto-linked derivatives.

The Moscow Exchange has launched bitcoin BTC$68,053.75-linked futures contracts on Wednesday, yet the product is only available for qualified investors.

The futures, seemingly tied to the value of the U.S.-listed iShares Bitcoin Trust ETF (IBIT), will be quoted in U.S. dollars per lot, though settlement will be handled in Russian rubles.

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The exchange said it would offer quarterly futures with the first expiration in September 2025, TASS reports.

The launch builds on momentum from other Russian financial players exploring crypto exposure without direct asset ownership. The Saint Petersburg Stock Exchange, TASS adds, has been testing similar cash-settled futures.

The country’s largest bank Sberbank is launching bitcoin futures along with the Moscow Exchange. Sberbank’s offerings also include structure bonds that track the price of bitcoin and the dollar-to-ruble exchange rate.

Russia’s central bank, long skeptical of crypto markets, approved last month the offering of securities and derivatives tied to cryptocurrencies, but only for qualified investors.

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