The Russian market for crypto investment products is likely to reach trillions of rubles next year, predicting a prominent member of the Russian crypto space.
The forecast is still strictly reserved for the institution and rich Russians after Moscow took a series of measures over the past few months to organize and regulate this segment of the digital economy.
Regulations open doors for institutional players
Russia has been gradually warming up towards crypto since last year, with laws and regulations recognizing certain activities related to digital assets.
The adoption of the 2024 basic regulations, when the Russian government legalized cryptocurrency mining, has opened a new horizon for the industry, Daily Izvestia said in the article.
This spring, the Central Bank of Russia (CBR) allowed investments in crypto derivatives based on the value of major cryptocurrencies such as Bitcoin and Ethereum.
The owner and CEO of Vasily Girya, owner and CEO of GIS Mining, told Russian Newspaper that financial institutions and large-scale production ownership began to enter the market after regulators tightened control.
This created an important incentive for the development of innovation in Russia’s digital economy, and he spoke at the Capital Markets Forum and explained in detail.
The entrepreneur says the market for Fiat and Cryptocurrency Instruments has continued to consolidate, reminding qualified investors that they have access to crypto-based investment products.
Girya’s company, along with leaders such as Bitriver and Intelion, is a key hardware operator in Russia’s growing crypto mining sector.
According to GIS Mining estimates, the size of the Russian crypto market, including mined cryptocurrencies, adopted computing power, mutual funds, digital financial assets (DFAS), and permanent DFA could exceed 2 trillion rubles (nearly $24 billion) in 2026.
VasilyGirya further commented:
“The growth of interest in large banks and investment companies continues to gain momentum. With moderately positive scenarios in the development of the industry, Bitcoin prices could reach between $130,000 and $135,000 by the end of 2025.”
The role of crypto will grow in Russia amid global instability
Russian authorities, once highly hostile with regard to crypto, have changed their attitudes, primarily as a result of making Western sanctions over wars in Ukraine, which severely restricted access to traditional Russian financial channels.
A recently proposed special “experimental legal regime” will provide Russian companies with the option to use cryptocurrency for cross-border payments, allowing “highly qualified” investors to buy and sell coins and put money into crypto derivatives.
Girya noted that in the context of geopolitical instability, cryptocurrencies become important hedging tools and serve as gateways to international financial markets and settlements.
The Bank of Russia is currently discussing with the government to expand the use of crypto assets by introducing a similar regime for digital innovation in the financial markets. And the Treasury recently proposed expanding investor access to crypto products.
Russian financial authorities have also drafted individual rules for financial institutions that want to invest directly in crypto, taking into account certain risks. Vasily Girya believes that new regulations for large participants will help balance market development.
The founders of GIS Mining also emphasize that Russian citizens are “actively mastering new technologies, including blockchain,” while Russian companies are developing solutions that make the country’s economy more competitive.