BlackRock’s IBIT Hits Russia But Only the Elite Can Touch It

BlackRock’s blockbuster Bitcoin ETF just made its Russian market debut — sort of. On June 4, Moscow Exchange (MOEX) launched futures trading for the iShares Bitcoin Trust IBIT (IBIT), as the fund broke into the top 25 ETFs globally by assets under management, according to Bloomberg’s Eric Balchunas.

But there’s a major catch: the product is only open to accredited investors. That means millions of ordinary Russians can’t participate, at least not yet.

MOEX says qualification testing for access will begin June 23. But for now, retail traders are watching from the sidelines — and they’re not happy.

Russia’s Crypto Market Expands, But Not for Everyone

The launch follows new Bank of Russia regulations in May that allowed financial institutions to offer crypto-linked products to qualified investors. In response, banks like Sber and T-Bank (formerly Tinkoff Bank) have started rolling out Bitcoin-tied investments.

It’s a brave move in a country where direct crypto access is still heavily restricted. But the central bank is still warning against retail exposure to digital assets, continuing to treat crypto with a high degree of caution.

Retail Traders Shrug Off BlackRock ETF Futures

The mood on the ground is less than enthusiastic. In the DeCenter Telegram channel, one user summed up the frustration: “Not real ETFs from the US, just a copy. Which does not affect the crypto market in any way.”

Another added that they’d rather just stick to trading Bitcoin directly on Binance than deal with layered financial products.

As of May, MOEX had nearly 37 million brokerage account holders, but only 315,000 were considered qualified private investors — meaning the vast majority can’t access IBIT futures.

Still, the original IBIT ETF continues to break records. On June 3, Bloomberg reported the fund had reached $72.4 billion in AUM, becoming the youngest ETF ever to crack the global top 25.

As analyst Eric Balchunas put it: “It’s like an infant hanging out with teenagers and twenty-somethings. Quite possibly the most insane IBIT stat yet.”

Over the past year, IBIT has increased by almost 48%. That surge reflects growing institutional demand for Bitcoin exposure through regulated products, and it’s a key reason why the fund now ranks among the largest ETFs in the world.