The Moscow Exchange has launched bitcoin BTC-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.
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.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin is trading around $91,000 after a minor dip earlier today, and uncertainty continues to…
Bitcoin Magazine Bitcoin Price Craters to $88,000, But JPMorgan Maintains $170,000 Target Bitcoin price plunged…
Bitcoin Magazine Indiana Lawmakers Push Bill to Make State a Bitcoin Leader Indiana lawmakers are…
Softer than expected private inflation data did spark some hope that the Friday decline could…
Bitcoin Magazine Why The Bitcoin Bear Market Is Almost Finished Bitcoin has struggled to maintain…
The bank’s volatility-adjusted bitcoin-to-gold model still points to a theoretical price around $170K over the…