The Moscow Exchange (MOEX), Russia’s largest stock market, is set to launch futures contracts tracking the value of Ethereum (ETH) and U.S. Treasury bonds in August. This move marks a significant expansion of crypto and international finance instruments available to Russian investors.
Ethereum Futures Coming to MOEX
According to Maria Patrikeeva, Managing Director of MOEX’s derivatives market, the new crypto futures will be tied to the iShares Ethereum Trust ETF by BlackRock, which invests directly in Ethereum. The contract will reflect the price of one share in the ETF and will be slightly smaller in size than the iShares Bitcoin Trust (IBIT) futures already offered.
This follows MOEX’s introduction of Bitcoin ETF futures in early June, made possible after the Central Bank of Russia approved crypto derivative trading for qualified investors. Other major Russian financial institutions, including Sberbank and brokerage firm Finam, have also launched similar crypto-linked products.
The current batch of MOEX Bitcoin ETF futures, expiring in September, has seen strong retail interest. As of late June, open net positions in these contracts totaled over 1.25 billion rubles (around $16 million), according to the Central Bank's latest financial risk report.
Futures on U.S. Debt Securities
MOEX will also debut Russia’s first futures contract linked to U.S. government debt. The new contract will be based on the iShares 20+ Year Treasury Bond ETF, which holds long-term U.S. Treasury securities with an average maturity of 26 years and a 15.7-year effective duration.
With yields on U.S. long-term bonds nearing 5% amid geopolitical and trade tensions, the new offering is expected to attract investors looking to hedge or speculate on U.S. fiscal policy.
MOEX Broadens Global Exposure
These developments are part of MOEX’s broader strategy to diversify its derivatives portfolio. The exchange already offers contracts linked to major international indices, including the S&P 500, NASDAQ, and Dow Jones, as well as European and Asian markets.
In a further push toward global integration, MOEX also plans to introduce futures on Tencent and Xiaomi—two major tech firms listed on the Hong Kong Stock Exchange.