Two large insurance companies in Russia launch investment type life insurance linked to Bitcoin

According to local media reports cited by Cyptoslate, two large Russian insurance companies, Renaissance Life and BCS Life Insurance, have launched investment type life insurance policies (ILIPs) linked to Bitcoin. These innovative policies allow investors to invest in BlackRock's iShares Bitcoin Trust (IBIT), which is the largest Bitcoin ETF by asset management size. These ILIPs are designed for high net worth individuals who wish to profit from Bitcoin price fluctuations without directly holding Bitcoin.