Russia will not follow US Bitcoin ETF landmark, confirms Governor

Sunil Sharma
October 25, 2021 Updated June 4, 2025
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The Central Bank of Russia (CBR) Chairperson, Elvira Nabiullina recently confirmed in a press conference that the country has no plans to follow the U.S. Securities and Exchange Commission (SEC) authorization of Bitcoin ETFs listing.

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Bank of Russia anti-crypto stance

The governor’s statement has followed the Bank of Russia’s long-term anti-crypto stance. Earlier this year, CBR published a statement, recommending the Russian stock exchanges to not permit the trading of domestic or foreign securities along with the dividend payments that “depend on cryptocurrency rates”, in lieu of preventing the risks of volatility, opaque financial activities, low liquidity, and more. The bank emphasized the risk factor, noting that with high gaining potential, the risk of losing large sums of money also becomes common for retailers with a lack of experience in the industry.

The bank listed the prices of foreign digital financial assets, changes in cryptocurrency and crypto-asset indices as well as the cost of crypto derivatives and securities of cryptocurrency funds as unwanted financial products.

“Cryptocurrencies and digital assets are characterised by high volatility, non-transparent pricing, low liquidity, technological, regulatory and other specific risks. Purchasing financial instruments linked to them entails increased risks of losses for people who lack sufficient experience and knowledge. The recommendations of the Bank of Russia are a preventive measure — they are aimed at preventing offering such instruments to common investors.”, stated the bank.

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US Bitcoin ETF

The long-awaited US first Bitcoin ETF has already been launched and is outperforming itself. Following the first-ever Bitcoin ETF success trail, the second ETF backed by Bitcoin has also launched and experts believe that the regulated Bitcoin ETF mass adoption could be a game-changer for the decentralized industry in the US.

While the US regulators also stood strong against cryptocurrencies like Russia, but the U.S. SEC’s approval of a Bitcoin (BTC) Exchange-Traded Fund (ETF) came as a compromise between the decentralized, and traditional fiat community. The OG crypto, Bitcoin also became the first to experience regulatory support that further pushed its price during the bullish fourth quarter. BTC ETF has proved it correct that regulatory approval radically helps the growth of cryptocurrencies.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.