Detailed water kinematics are important for understanding atmosphere-ice-ocean energy transfer processes in the Arctic. There are few in situ observations of 2D velocity fields in the marginal ice zone. Particle tracking velocimetry and particle image velocimetry are well known laboratory techniques for measuring 2D velocity fields, but they usually rely on fragile equipment and pollutive plastic tracers. Therefore, in order to bring these methods to the field, we have developed a new system which combines a compact open-source remotely operated vehicle as an imaging device, and air bubbles as tracing particles. The data obtained can then be analyzed using image processing techniques tuned for field measurements in the polar regions. The properties of the generated bubbles, such as the relation between terminal velocity and diameter, have been investigated under controlled conditions. The accuracy and the spread of the velocity measurements have been quantified in a wave tank and compared with theoretical solutions. Horizontal velocity components under periodic waves were measured within the order of 10% accuracy. The deviation from theoretical solutions is attributed to the bubble inertia due to the accelerated flow. We include an example from an Arctic field expedition where the system was deployed and successfully tested from an ice floe. This work is an important milestone towards performing detailed 2D flow measurements under the ice in the Arctic, which we anticipate will help perform much needed direct observations of the dynamics happening under sea ice.