Sberbank, Russia’s largest financial institution, has launched the nation’s first structured Bitcoin (BTC) bonds, marking a groundbreaking step in integrating cryptocurrencies into traditional finance.
Announced in late May 2025, this initiative reflects Russia’s evolving acceptance of digital assets within a regulated framework.
With over $550 billion in assets under management, Sberbank is leading the charge to offer investors exposure to Bitcoin’s volatility while adhering to domestic financial regulations. This move positions the bank as a trailblazer in Russia’s rapidly changing financial landscape.
Sberbank is launching Bitcoin bonds in a regulated framework
Sberbank’s new structured bonds tie investor returns to Bitcoin’s price performance in US dollars and the US dollar-to-ruble exchange rate.
Initially offered over the counter to a select group of qualified investors, these bonds operate entirely in rubles, ensuring compliance with Russia’s legal and financial systems.
Consequently, investors can capitalize on Bitcoin’s price movements without needing crypto wallets or unregulated foreign platforms. This approach provides a secure and accessible way for accredited investors to engage with the cryptocurrency market, aligning with Russia’s cautious yet progressive stance on digital assets.
Sberbank will list these bonds on the Moscow Exchange
Sberbank is not stopping at OTC bonds. The bank plans to list these Bitcoin-linked bonds on the Moscow Exchange, enhancing transparency, liquidity, and access for a wider range of qualified investors.
Additionally, Sberbank will introduce a Bitcoin futures product on its SberInvestments platform, with trading slated to begin on June 4, 2025, in sync with the Moscow Exchange’s launch.
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This strategic expansion underscores Sberbank’s commitment to embedding cryptocurrency-linked instruments into Russia’s mainstream financial markets, catering to growing investor interest in digital assets.
Sberbank’s initiative follows the Bank of Russia policy shift
Notably, Sberbank’s initiative follows the Bank of Russia’s policy shift on May 28, 2025, which allowed financial institutions to offer Bitcoin-linked instruments to accredited investors.
The central bank, however, enforces strict rules, prohibiting direct cryptocurrency investments and requiring full capital coverage for such products. This regulatory clarity has sparked innovation, with T-Bank also launching a Bitcoin-tied “smart asset” via the state-backed Atomyze platform on the same day.
As a result, Sberbank’s bonds represent a broader trend of regulated crypto adoption among Russia’s major financial players.
The surging demand for crypto in Russia
Russia’s appetite for cryptocurrencies is evident in recent data from the Bank of Russia, which reports that residents hold 827 billion rubles ($9.2 billion) in digital assets on centralized exchanges as of Q1 2025.
Furthermore, inflows to Russian crypto platforms surged 51% to 7.3 trillion rubles ($81.5 billion) in the same period. Bitcoin leads with a 62% market share, followed by Ether at 22% and stablecoins like Tether and USDC.
Therefore, Sberbank’s Bitcoin bonds tap into a vibrant market, offering high-yield opportunities driven by Bitcoin’s price growth and currency fluctuations.
By offering regulated, ruble-based products, Sberbank bridges traditional finance with the volatile cryptocurrency market. Moreover, Sberbank’s plans to introduce bonds tied to other cryptocurrencies, such as Ether, Solana, or XRP, indicate a forward-looking vision for digital asset integration.