iShares Bitcoin ETF futures go live on Moscow Exchange

Moscow Exchange (MOEX), Russia’s largest stock exchange, has launched futures trading for BlackRock’s iShares Bitcoin Trust ETF (IBIT), as the fund climbs into the world’s top 25 ETFs by assets under management (AUM).

MOEX introduced a futures contract tied to IBIT on June 4, according to an official announcement by the exchange.

The new investment product is accessible exclusively to accredited investors, with MOEX expecting to introduce qualification testing from June 23, the announcement states.

The launch comes as IBIT entered the list of top 25 ETFs by assets worldwide, with an AUM of $72.4 billion, according to Bloomberg’s senior ETF analyst Eric Balchunas.

Multiple crypto products debut in Russia

Moscow Exchange’s IBIT futures trading debut is the latest crypto investment product launch in Russia since the Bank of Russia officially authorized financial institutions to offer crypto products to qualified investors in May.

Following the greenlight, major local commercial banks, including Sber and T-Bank (formerly Tinkoff Bank) have started offering investment tools tied to cryptocurrencies like Bitcoin (BTC).

Despite this expansion, the Russian central bank remains cautious about direct crypto investments and continues to advise against retail participation in digital asset markets.

Retail investors not happy

Since products like IBIT ETF futures are only available to accredited investors, many retail investors are unimpressed by the latest crypto developments in Russia.

“Not real ETFs from the US, just a copy. Which does not affect the crypto market in any way,” one disgruntled observer commented to the news on the DeCenter channel on Telegram.

Another commentator hinted that they’d rather directly trade cryptocurrencies on exchanges like Binance than crypto investment products on MOEX.

According to official MOEX data, the number of individuals with brokerage accounts on MOEX amounted to 36.9 million as of May. Last month, at least 3.6 million people made transactions on the MOEX stock market, with 315,000 individuals representing qualified private investors.

IBIT cements position among ETF giants

BlackRock’s IBIT has continued its meteoric rise since its launch in January 2024. On June 3, the ETF entered the global top 25 list by assets under management, a feat achieved in just over a year.

“At 1.4 years old, IBIT is the youngest on the list by nine times,” Bloomberg’s ETF expert Balchunas wrote on X on Tuesday.

Related: BlackRock’s Bitcoin ETF ends 31-day inflow streak with biggest outflow ever

“It’s like an infant hanging out with teenagers and twenty-somethings. Quite possibly the most insane IBIT stat yet,” he added.

BlackRock’s IBIT Bitcoin ETF has been repeatedly breaking records since its historical launch in January 2024. In just three months after launch, IBIT raked in nearly $15.5 billion of inflows, which placed it among the top 10 longest inflow streaks for any ETF in history.

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