Russian investors are flocking to domestic financial products linked to BlackRock Bitcoin and Ethereum ETFs, with total investments exceeding $27 million. The central bank notes small portfolios up to $6,430, but larger investors are contributing over $1.3 million. This trend reflects growing crypto adoption in Russia amid international market alternatives.

Despite the surge, the bank remains unconcerned as total private investments in Russian crypto-related instruments amount to $48 million, posing no systemic risk. The Moscow Exchange introduced futures contracts in June and July based on BlackRock iShares Bitcoin and Ethereum Trust ETFs. The bank also observed a decline in Russia-linked trade on overseas exchanges.

Statistics show that Russian citizens hold significant amounts of Bitcoin, Ethereum, and altcoins collectively worth billions. The central bank tracks these holdings using Transparent Blockchain, monitoring transactions on major centralized exchanges popular with Russians. However, decentralized exchanges may be gaining popularity, leading to reduced activity on centralized platforms.

Read more at Yahoo Finance: Russian investors flock to Bitcoin, Ethereum funds as crypto adoption gathers pace