Moscow Exchange will launch perpetual futures tied to five crypto indices on September 22, covering Bitcoin, Ethereum, Solana, XRP and TRON. The cash-settled contracts require no crypto delivery and stay restricted to qualified investors, extending a framework Russia's central bank opened in May 2025.
The exchange will launch perpetual futures linked to five cryptocurrency indices on September 22, giving professional investors price exposure to crypto without requiring them to hold the underlying tokens. The contracts track MOEX indices for Bitcoin, Ethereum, Solana, XRP and TRON.
Five Contracts, No Token Delivery
The lineup includes BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF and TRXUSDF, one-day futures contracts with automatic rollover that settle financially rather than through delivery of the underlying coins. According to CoinGape, the contracts are quoted in U.S. dollars and settled in Russian rubles. Access stays limited to investors holding qualified investor status, a category defined by financial knowledge, professional experience, income and assets rather than a single wealth threshold.
CoinGape reported Bitcoin trading around $76,600, up more than 1%. Ethereum surged more than 2% to $2,450. Solana rose more than 3%, rebounding above $100. XRP reclaimed $1.30 after an almost 1% jump, though trading volume fell 38% over the same period.
Why Russia Permits Futures but Restricts Direct Crypto
The product fits a boundary the Bank of Russia set in May 2025, when it allowed financial institutions to offer qualified investors derivatives, securities and digital financial assets tied to crypto prices, provided the instruments do not deliver cryptocurrency. The central bank also recommended conservative risk controls, including full capital coverage. Direct crypto investment instead follows a separate, narrower experimental regime the central bank has proposed.
A statement on the launch called it "an important milestone in the development of the Russian derivatives market", adding that MOEX sees strong investor demand for digital asset derivatives.
An Existing User Base
MOEX already runs a market for dated crypto futures. It says more than 72,000 qualified investors have traded its crypto-linked futures since the first products launched in summer 2025. Cumulative turnover has exceeded RUB 600 billion.
Sources: Crypto News Flash, CoinGape
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