Two large insurance companies in Russia have launched investment-linked life insurance products tied to Bitcoin

ChainCatcher news, according to local media reports cited by Cyptoslate, two major Russian insurance companies, Renaissance Life and BCS Life Insurance, have launched investment-linked life insurance policies (ILIP) tied to Bitcoin.

These innovative policies allow investors to invest in the BlackRock's iShares Bitcoin Trust (IBIT), which is the largest Bitcoin ETF by assets under management. These ILIPs are designed for high-net-worth individuals who wish to profit from Bitcoin price fluctuations without directly holding Bitcoin.