Sberbank Rolls Out Bitcoin-Based Bonds for Local Investors
Sberbank, Russia’s biggest commercial bank, has introduced a new investment product tied to the performance of Bitcoin and the US dollar exchange rate. This offering, described as a structured bond, gives investors a way to tap into the digital asset market while operating entirely within Russia’s legal and financial systems.
The launch follows recent regulatory shifts that now allow licensed institutions to provide crypto-related financial instruments to qualified investors, as long as they don’t involve direct ownership of digital currencies.
Image 1: Sberbank launches structured bond tied to Bitcoin (Source: Network Axis Group)
Investing in Bitcoin Without Owning Crypto
Instead of buying Bitcoin directly, investors can now purchase these bonds to gain exposure to the cryptocurrency’s price movements. The return on the investment depends on two key factors: how the price of Bitcoin behaves in US dollars, and whether the US dollar strengthens against the Russian rouble.
The bank’s approach removes some of the technical and legal barriers associated with cryptocurrency. Investors don’t need to create a digital wallet or use offshore exchanges. All transactions are carried out in roubles, using existing Russian infrastructure and in line with local financial regulations.
At this stage, the product is available through the over-the-counter (OTC) market and limited to professional investors. However, future plans include listing these structured bonds on the Moscow Exchange. This would improve transparency, allow easier access, and boost market liquidity for a wider pool of participants.
The recent Russian bitcoin announcement definitely has two notable effects on the market:
#1 – A Balancing Effect on Valuation:
It counteracts the downward pressure from certain institutional forces that seem intent on suppressing Bitcoin’s value. Russia’s move signals at least…— Network Axis Group (@NetAxisGroup) June 2, 2025
Sberbank Prepares More Crypto-Tied Instruments
Sberbank’s move comes just days after Russia’s central bank adjusted its stance, allowing approved financial institutions to launch investment products with links to cryptocurrencies. While direct crypto purchases remain restricted, the new rules opened the door to regulated options that mimic exposure to digital assets.
In addition to the Bitcoin-linked bond, Sberbank is preparing to introduce futures contracts based on Bitcoin. These are expected to launch through the bank’s investment platform as soon as the Moscow Exchange activates its crypto derivatives offering, scheduled for early June.
Other major banks are also jumping in. On the same day the central bank made its announcement, T-Bank (formerly known as Tinkoff Bank) unveiled its own product connected to Bitcoin’s value. It used a government-backed tokenisation platform to issue the instrument, further signalling institutional interest in this space.
Crypto Holdings Grow Despite Restrictions
Although Russia has kept tight controls over the use of cryptocurrencies for everyday transactions, interest in digital assets continues to grow. Recent data from the country’s central bank showed that Russians held over 800 billion roubles worth of crypto on major exchanges in the first quarter of 2025. Inflows into local platforms surged as well, climbing by more than 50% to over 7 trillion roubles during the same period.
Bitcoin remains the most widely held digital asset in the country, accounting for more than half of all crypto activity. Ethereum follows, with stablecoins such as Tether and USD Coin making up a smaller share.
Image 2: Sberbank (Source: NoCash)
Sberbank’s foray into structured bonds and crypto-based futures represents a significant shift. By offering products that stay within local legal boundaries but still allow investors to benefit from the crypto market’s growth, the bank is reshaping how digital assets are accessed in Russia.
This development could also encourage more financial institutions to explore similar offerings, especially as demand for regulated crypto exposure grows. As mainstream banks embrace Bitcoin-related investments, regulators may feel greater pressure to formalise clearer rules for digital assets. Such moves could not only increase investor confidence but also spark further interest in Bitcoin, potentially driving its price higher.
As regulatory frameworks continue to evolve, other financial institutions are likely to follow suit. For now, Sberbank has taken the lead, opening a path for traditional investors to engage with crypto through familiar, regulated tools.
