The Central Bank of Russia published a draft ordinance that would lift the current restriction preventing qualified investors from investing, via unit investment funds (UIFs), in settlement instruments whose value is linked to cryptocurrencies. The draft also updates investment and risk-limiting rules for retail UIFs. Retail UIFs would be able to invest in a broader set of unlisted securities, subject to a 10% cap, increased to 20% for closed-end funds. Concentration limit calculations would be revised so the existing 10% limit, previously applied to a single company, would apply to the entire group of related organisations. The Central Bank of Russia is accepting comments until 9 December 2025.
Central Bank of Russia 2025-11-25
Central Bank of Russia consults on allowing qualified investors to use unit investment funds to access crypto-linked settlement instruments and on new retail fund limits
The Central Bank of Russia released a draft ordinance proposing to lift restrictions on qualified investors investing in cryptocurrency-linked settlement instruments via unit investment funds (UIFs). The draft also revises investment and risk-limiting rules for retail UIFs, allowing broader investment in unlisted securities with adjusted concentration limits.