Moscow Exchange (MOEX) is set to expand its crypto product lineup, with plans to launch new indices and cash-settled futures tied to XRP, Solana (SOL) and Tron (TRX) later this year, according to local reports.
What’s happening
- Maria Silkina, head of MOEX’s derivatives products group, described the plans on a recent radio broadcast.
- The exchange already publishes benchmarks for Bitcoin and Ethereum; the new indices will mirror price moves for three additional high-volume tokens and serve as the basis for futures contracts.
- Under current rules, these futures will be cash-settled and settled monthly in line with the Bank of Russia’s regulatory framework.
Why it matters
- Traders will be able to take exposure to XRP, SOL and TRX without holding the underlying tokens, removing custody requirements and some operational complexity.
- New instruments can increase liquidity and offer more hedging and trading strategies inside Russia, potentially improving local price discovery for these assets and drawing institutional capital that has so far stayed on the sidelines.
What’s next on MOEX’s roadmap
- The exchange is also evaluating perpetual futures and options for Bitcoin and Ethereum. Perpetuals differ from monthly-settled contracts by having no expiry and using funding rates to track the spot market, enabling positions to be held indefinitely.
- MOEX says some ideas are still under study and will be rolled out step-by-step to keep products tightly regulated while supporting more sophisticated trading strategies.
Context and market reaction
- In 2025 MOEX expanded into crypto-linked futures and listed indices connected to Bitcoin and Ether, alongside structured products linked to overseas ETFs. Large Russian firms have followed with crypto-tied investment options — Sberbank, for example, has launched a product linked to Bitcoin’s price.
- Initial market access to these new MOEX products is likely to be limited to qualified investors, per prevailing rules, but a broader suite of instruments typically bolsters market depth and risk management options.
Regulatory trade-offs
- Cash settlement reduces custody headaches but keeps trades squarely within the Bank of Russia’s clearing, reporting and compliance regime, which could constrain certain uses even as it reassures institutional participants.
Bottom line
If implemented, MOEX’s planned indices and futures for XRP, Solana and Tron would be a notable step toward mainstreaming token exposure on Russia’s primary exchange — offering regulated, custody-light ways for investors to participate while balancing oversight and market innovation.
Sources: local coverage, radio comments from MOEX’s derivatives head; image/graph references from The Moscow Times and TradingView.
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