Russia Moves Toward Crypto Investment Funds for Qualified Investors

Russia's central bank has signaled a notable shift in its stance toward cryptocurrency investments. The Bank of Russia is now considering allowing mutual funds to offer crypto exposure to qualified investors, marking a departure from its traditionally conservative approach.

Olga Shishlyannikova, director of the CBR's Department of Investment Financial Intermediaries, confirmed the regulator will discuss the proposal with market participants who have been advocating for such products. This development follows earlier moves in 2024 where the bank permitted crypto derivatives for sophisticated investors while maintaining warnings about direct investments.

The potential approval of crypto mutual funds represents another step in Russia's gradual acceptance of digital assets within its financial system. Market observers note this could open new institutional channels for crypto exposure, though strict qualifications will likely limit participation.