Moscow Exchange Unveils Bitcoin Index and Futures Trading

The Moscow Exchange (MOEX) is set to launch its own Bitcoin index, MOEXBTC, on June 10, 2025, marking a significant step towards integrating cryptocurrency into Russia's regulated financial sector. This follows the exchange's recent introduction of futures trading on the iShares Bitcoin Trust ETF (IBIT) for qualified investors, further solidifying its engagement with digital assets.

MOEX Embraces Bitcoin: A New Era for Russian Finance

The Moscow Exchange announced it will begin calculating and publishing a new Bitcoin index, MOEXBTC, starting June 10, 2025. This move is seen as a strategic integration of the cryptocurrency market into Russia's regulated financial system, providing institutional investors with an official price benchmark for Bitcoin.

Key Details of the MOEXBTC Index

Launch Date: June 10, 2025
Ticker: MOEXBTC
Calculation Frequency: Once daily at 12:30 PM Moscow time
Data Sources: Prices of perpetual futures and swaps for the BTC/USDT pair from four major cryptocurrency exchanges:
- Binance
- Bybit
- OKX
- Bitget
Methodology: The index will be a weighted average of prices from these exchanges, with weights adjusted quarterly based on trading volumes.

Futures Trading on Bitcoin ETF Already Underway

Prior to the index launch, the Moscow Exchange initiated trading in futures contracts on the iShares Bitcoin Trust ETF (IBIT) on June 4, 2025. These futures, with the trading code IBIT-9.25 (short IBU5), are denominated in U.S. dollars per lot but settled in Russian rubles. Access to these futures is currently restricted to qualified investors.

Strategic Implications and Future Prospects

Experts view the launch of the MOEXBTC index as a foundational step for future financial products. While the daily calculation frequency may limit its utility for day traders, it aligns with the exchange's conservative model. The index is expected to serve as a reliable benchmark for institutional investors and could pave the way for more sophisticated derivative instruments. This cautious approach allows the exchange to test market interest within existing regulatory frameworks, without direct trading of the underlying cryptocurrency.

Market Reaction and Outlook

The debut session for Bitcoin ETF futures saw significant activity, with trading volumes exceeding 423 million rubles and nearly 8,600 transactions. This indicates a strong initial interest from qualified investors. The introduction of the MOEXBTC index is anticipated to further strengthen the Moscow Exchange's position in the domestic market by attracting new users and increasing investor engagement in crypto-related financial instruments.

Sources

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