On March 5, 2025, Russian Deputy Finance Minister Vladimir Colettev explained that Russia has no plans to add Bitcoin or any other encrypted currency to the National Wealth Fund (NWF).
So far, Russia has accepted and used cryptocurrencies as a practical financial tool in international trade. However, it does not consider them part of its national reserves and is still cautious about their long -term strategic role.
Nwf Holdings: In the first place yuan and gold, there are no digital origins
According to Interfax, Kolychev stressed that the Ministry of Finance has no intention to change the current investment structure of the National Democratic Party. In particular, digital assets will not be included due to their high fluctuations.
When asked if there was any possibility to change the investment structure in NWF, Kolychev gave a firm response:
“No. Just gold and yuan,” is I mentioned.
Interfax indicates that the box may carry up to 60 % in Yuan and a maximum of 40 % in gold. Colettev also said he had not heard of any discussions on Russia that created a strategic reserve for the encrypted currency – an idea that the Trump administration suggested in the United States.
In addition, he stressed that high liquidity and low risk are the main factors in determining the assets held in NWF. Digital assets, due to their extreme fluctuations, do not fulfill these standards.
“From the perspective of the sovereign budget, it is important that the fund’s assets are very liquid and can be sold quickly without a significant loss in the value. We do not want to be in a position in which we must sell one of the assets at half the price we have invested. The digital assets are very volatile, so we have never thought about it in NWF and we have no plans to do so in the future,” Kolychev Make up.
Kolychev also noted that NWF may consider investing in less liquid and fluctuating assets as soon as it reaches 7-10 % of GDP. However, he stated that the box is still far from this level. As of February 1, the size of the National Wealth Fund reached 11.97 trillion rubles (122.09 billion dollars), equivalent to 5.6 % of the expected GDP for 2025, according to a report From the Russian Ministry of Finance.
Meanwhile, Russia has taken legal steps to regulate the cryptocurrency. In late November 2024, the Russian parliament issued a law recognizing bitcoin and other cryptocurrencies as assets. The law imposes a personal income tax ranging from 13 and 15 % on encryption transactions and is awaiting the signing of President Vladimir Putin to turn into effect.
According to December 2024 a report By the Bank of Russia, Bitcoin constituted 69 % of the total Russian cryptocurrencies in the stock exchanges in September 2024.
Until now, Russia has adopted a pragmatic approach to Bitcoin, using international transactions to confront sanctions, but refrain from integrating it into national reserves.
Disintegration
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