PANews reported on July 4 that according to Cyptoslate, citing local media reports, two large Russian insurance companies, Renaissance Life and BCS Life Insurance, have launched investment-based life insurance policies (ILIPs) linked to Bitcoin. These innovative policies allow investors to invest in BlackRock's iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF by asset management. These ILIPs are designed for high-net-worth individuals who want to profit from Bitcoin price fluctuations without directly holding Bitcoin.