The Moscow Exchange began publishing its new MOEX Derivatives Market Bitcoin Index, known as MOEXBTC. The index draws price data from perpetual futures and swaps for the BTCUSDT pair on four major platforms, Binance, Bybit, OKX, and Bitget.
By using a weighted average of the prices gathered from these sources, the exchange aims to create a reliable gauge of bitcoin’s value across leading markets. The launch sets the stage for the index to serve as the foundation for future financial products on MOEX.
Index Method and Future Use
MOEXBTC will be calculated each day using fixed weight factors assigned to data from the four trading venues. This design is meant to smooth out price swings on any single platform and capture a broad view of global demand.
In announcing the new measure, the exchange said that market participants could one day trade derivatives tied directly to the index. That step would allow local and international investors to gain exposure to bitcoin without holding the digital asset itself.
Cash-Settled Bitcoin Futures for Accredited Investors
Shortly before rolling out the index, MOEX also introduced cash-settled bitcoin futures contracts. Available only to accredited investors, these contracts reference IBIT, the U.S. spot bitcoin exchange-traded fund managed by BlackRock.
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Although the new futures reflect the performance of IBIT, they remain derivatives rather than direct shares of the ETF. Priced in U.S. dollars and settled in Russian rubles, the first series of contracts will mature in September 2025.
Broader Market Impact
The moves by MOEX come as global exchanges seek to meet growing demand for regulated crypto products. By providing a ruble-settled outlet for bitcoin exposure, the exchange may attract local wealth managers and sophisticated traders.
At the same time, the index’s reliance on world-leading platforms underlines a shift toward greater integration between Russia’s capital markets and the wider crypto ecosystem.
For accredited investors, the launch of futures and the promise of index-linked instruments offer new ways to hedge positions and gain targeted exposure.
Sber’s New Bond Product
Russia’s largest commercial bank, Sber, has rolled out a bond tied to both Bitcoin and the dollar-to-ruble rate. This bond lets qualified investors earn returns based on two factors, how Bitcoin fares against the U.S. dollar, and how the dollar moves versus the ruble. All payments come in rubles. Investors need no crypto wallet or foreign platform access.
With the debut of MOEXBTC and cash-settled futures, the Moscow Exchange has taken clear steps to expand its crypto footprint. The index lays the groundwork for a suite of tradable products, while the futures contracts give accredited investors a fresh tool for managing Bitcoin risk.
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