Russia’s largest exchange, Moscow Exchange, will start calculating and publishing new cryptocurrency indices from May 13. The expansion adds Solana (MOEXSOL), XRP (MOEXXRP), Tron (MOEXTRX), and BNB (MOEXBNB) to its existing Bitcoin (MOEXBTC) and Ethereum (MOEXETH) benchmarks.
As per a local report, the exchange will also update its crypto indices every 15 seconds throughout the day instead of once a day. It will also publish data over weekends, reflecting the round-the-clock nature of crypto trading.
More frequent updates are likely to give traders a clearer view of price movements and could support the growth of crypto-linked derivatives by improving how market risks are tracked.
Expanding crypto benchmarks and data sources
The exchange said it will calculate the indices using aggregated price data from major trading platforms. About 50% of the data will come from Binance, with 20% sourced from Bybit, and 15% from OKX and 15% from Bitget, a mix that broadly reflects where most crypto trading activity takes place.
MOEX also plans to expand the index list to as many as 10 assets. Potential additions include Dogecoin, Cardano, Hyperliquid, and Chainlink. These benchmarks could later be used to support new derivatives products tied to the crypto market.
Derivatives strategy and regulatory push
Russia is continuing to build a tightly controlled crypto market, with regulators allowing some exposure while keeping limits in place. In May 2025, the Bank of Russia approved crypto-linked derivatives but barred the direct delivery of digital assets. That has pushed exchanges toward cash-settled futures and other synthetic products.
Maria Silkina, Chief Manager of the Derivatives Product Group at Moscow Exchange, said the bourse is preparing to launch perpetual futures tied to Bitcoin and Ethereum. She noted that these contracts track price movements rather than involve the transfer of the assets themselves. The exchange already offers products linked to BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA), as well as its own MOEXBTC and MOEXETH indices.
At the same time, lawmakers in the State Duma are reviewing a draft bill — the law on “Digital Currency and Digital Rights” — that could widen access to digital assets, including for retail investors under certain limits. Under the framework based on the Bank of Russia’s December regulatory concept, non-qualified retail investors would be capped at 300,000 rubles (around $4,000) per year on highly liquid tokens, while qualified investors would face no such limits, though they would be barred from buying privacy-focused coins. The bill explicitly prohibits using digital currencies for domestic payments. The legislation is targeted for adoption by July 1, 2026, with enforcement provisions on illegal intermediary activity taking effect from July 1, 2027.
Moscow Exchange has said it hopes to begin direct crypto trading by early 2027, once the legal framework is in place — a step that would deepen its role in the country’s digital asset market. The St. Petersburg Exchange, Russia’s second-largest stock venue, has indicated similar readiness.
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