Moscow Exchange will introduce perpetual futures on BTC, ETH, SOL, XRP and TRX indices from September 22, 2026. The contracts are cash-settled, so traders do not need to take delivery of the
Moscow Exchange, Russia’s largest stock exchange, has announced the launch of perpetual futures contracts on five major cryptocurrency indices starting September 22, 2026. The new instruments cover Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple, and Tron. It is traded under contract codes BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF, and TRXUSDF, respectively.
The contracts are settlement-based with no delivery of the underlying crypto assets required. Moreover, they will be quoted in U.S. dollars based on the corresponding MOEX index value, with settlements carried out in Russian rubles. Access is restricted to qualified investors only.
Since the first digital asset futures launched last summer, more than 72,000 qualified investors have already traded these contracts on the exchange. The cumulative transaction volume has exceeded 600 billion rubles, approximately $6.5 billion. That is not a pilot program; that is a market with demonstrated demand being expanded into new territory.
Maria Patrikeeva, Managing Director of the Derivatives Market at Moscow Exchange, framed the launch clearly:
“The launch of perpetual digital currency futures is an important milestone in the development of the Russian derivatives market. We see strong investor demand for digital asset derivatives. Providing access to such instruments within the Russian legal framework is crucial: the Moscow Exchange infrastructure guarantees reliable settlements, transparent pricing, and protection of the rights of all trading participants. Since the launch of the first digital asset futures last summer, more than 72,000 qualified investors have already traded these contracts on Moscow Exchange, with a total transaction volume exceeding 600 billion rubles.”
Furthermore, the new perpetual contracts will complement an existing line that already includes 31 instruments across currency pairs. It includes Moscow Exchange indices, government bonds, precious metals, and Russian and foreign securities.
Funding for the new contracts is calculated according to MOEX’s specification. It uses parameters K1 and K2 set at 0% and 0.35%, respectively. Contracts carry automatic rollover with overnight settlement. This is a structure designed for professional market participants who want exposure to crypto price movements without the operational complexity of holding actual digital assets.
A major national exchange expanding its crypto derivatives surface is a structural development, but the full global impact has limits. In addition, Ruble settlement and qualified-investor-only access mean direct effects on global order books will be contained in the short term.
The more significant signal will come after September 22. The volume ramps quickly on the back of existing demand from 72,000+ active investors. It confirms that Russian institutional appetite for crypto exposure is growing faster than most Western observers have accounted for.
For the global crypto market, a regulated, exchange-backed derivatives product available to tens of thousands of institutional participants in Russia is another data point in the ongoing shift of crypto from speculative asset to institutional instrument.
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