Crypto news

BlackRock’s Bitcoin ETF Enters Moscow Market — Investors React with Eye Rolls

BBG News

Well, it finally happened. Moscow Exchange (MOEX), Russia’s answer to the New York Stock Exchange, launched futures trading for BlackRock’s iShares Bitcoin Trust ETF (IBIT). Because nothing says “progress” like turning digital gold into a futures contract for exclusive, accredited investors. 🏦💸

MOEX officially announced on June 4 that traders could now gamble on IBIT’s price movements—because what’s more exciting than betting on a fund you can’t even buy? The new product is only available to those who’ve jumped through the hoops of qualification testing starting June 23, so if your idea of fun is proving you’re rich enough, congratulations. 🎉

Meanwhile, IBIT has nabbed a spot in the coveted top 25 ETFs worldwide, boasting a cool $72.4 billion in assets. That’s quite a climb for a fund launched in January 2024—only 1.4 years old and already older than most TikTok stars. Bloomberg’s Eric Balchunas called IBIT “the infant hanging out with teenagers,” which is a factually accurate description of something that’s basically a toddler with the ego of a billionaire. 🤣

Multiple crypto products debut in Russia

Russia of all places has officially dipped its toes into crypto offerings—because nothing says “we’re serious” like a government-approved product. Following the Bank of Russia’s green light in May, big banks like Sber and T-Bank (formerly Tinkoff) now offer products tied to Bitcoin. Yet, the central bank remains as cautious as a cat near a swimming pool, warning retail investors to stay away from crypto market chaos. 🐱💧

Retail investors not happy

Meanwhile, the average Joe on the street is less than thrilled. Since these crypto products are VIP-only, many retail investors are grumbling that this isn’t real investing—just fancy copies of American ETFs. “Not real ETFs from the US, just a copy. Which does not affect the crypto market in any way,” bemoaned one Telegram user. Because what’s more fun than being excluded from the financial party? 🎈

Another wise guy said he’d rather just trade Bitcoin on Binance than bother with these “premium” products on MOEX, which is the financial equivalent of waiting in line for the bathroom at a nightclub. At least you’d get some actual crypto action instead of—well, whatever this is. 🚪💦

MOEX data shows 36.9 million brokerage accounts, with 3.6 million actively trading last month. Only 315,000 are qualified private investors, which is about as exclusive as a nightclub in Moscow—if only they served champagne instead of thinly veiled crypto skepticism. 🍾

IBIT cements position among ETF giants

Since launching in January 2024, IBIT has been hot on the heels of the big guys. By June 3, it had made it into the top 25 ETFs by assets. And it’s still a toddler—1.4 years old—compared to the other giants, which makes IBIT basically the financial equivalent of a perpetual toddler throwing tantrums in the sandbox. Bloomberg’s Balchunas even called IBIT “the most insane stat yet,” which is remarkable considering Russia’s so-called “regulated” crypto scene. 🤷‍♂️

Bloomberg's Balchunas jokes about IBIT being an infant among ETFs

Since its launch, IBIT has attracted nearly $15.5 billion in inflows in just three months—enough to make it one of the longest-running inflow streaks in ETF history. Because what’s more satisfying than seeing a toddler in a diaper outpace the big boys? Now we wait to see if it can grow up—and if the Russian government can keep a straight face while doing it. 😏

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2025-06-04 16:03

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