Bank of Russia to Let Funds Trade Crypto Derivatives in 2026
The Bank of Russia will amend its regulations in the first quarter of 2026 to allow capital management firms and mutual investment funds to invest in crypto derivatives. Currently, only brokers can offer cryptocurrency-linked products under an experimental legal regime, with assets like Bitcoin (BTC) and Ethereum (ETH) available exclusively to highly qualified investors. Olga Shishlyannikova, director of the CBR’s Investment Finance Intermediation Department, announced the plan at a financial forum in Yekaterinburg. Her comments confirm earlier statements by deputy director Valery Krasinsky, who said the central bank aims to "level the playing field" for funds and brokers. The move follows the CBR’s May 2025 decision to permit derivative instruments tied to major cryptocurrencies and signals a gradual opening of Russia’s financial sector to digital assets. Deputy Governor Vladimir Chistyukhin has also indicated plans to introduce specific rules for commercial banks dealing with crypto. The regulatory update is expected to boost market liquidity, institutional participation, and demand for crypto derivatives in Russia.
Bullish
Allowing investment funds to trade crypto derivatives expands institutional access and signals a more open regulatory stance. Historically, when the Bank of Russia permitted brokers to offer Bitcoin and Ethereum derivatives in May 2025, trading volumes and liquidity increased. Opening the market to capital management firms should drive further demand for crypto derivatives, support price stability through enhanced liquidity, and attract new capital. In the short term, traders may respond with increased buying activity, while in the long term, greater institutional participation could underpin sustained market growth and innovation in Russia’s crypto sector.