Moscow Exchange to Follow up BTC Futures Launch With Crypto Funds, Structured Bonds

The Moscow Exchange is set to launch a new Bitcoin (BTC) index futures offering, in addition to crypto funds and structured bonds.

The Russian exchange’s Managing Director Vladimir Krekoten said a new BTC derivative instrument launch was “imminent.”

Speaking to RBC Investments, Krekoten explained that the product would be a futures contract on a new Bitcoin index.

Moscow Exchange: BTC Bullishness Continues

He explained that calculations on the index that will become the underlying asset for the contract began on June 10.

The move follows hot on the heels of the Moscow Exchange’s first Bitcoin futures contract, which debuted on June 4.

This product is available to qualified investors only. It is cash-settled in rubles and tied to the BlackRock-launched iShares Bitcoin Trust ETF (IBIT).

Krekoten suggested that the popularity of the first Bitcoin futures contract offering has inspired the exchange to fast-track the release of more crypto derivative products. He said:

Regulatory Approval Still Pending

Krekoten added that the exchange’s discussions with management companies were ongoing as the parties await regulatory approval.

The executive said the parties were discussing the launch of mutual funds and structured bonds focused on cryptoasset indices. He explained:

The executive explained that since the June 4 launch, trading volumes on the BTC futures contract have hit a total of almost 7 billion rubles ($89,455,660).

Krekoten said that more than 10,000 investors have already traded with the product, adding: “These are very good indicators considering the instrument has only been on the market for such a short time.”

Obviously, the figures are not comparable with the volumes of futures contracts on the Moscow Exchange index. However, this is still a very high figure.”

Crypto Investment Growing in Popularity in Russia

The Managing Director dismissed claims that the exchange lacks the technical capacity to launch more crypto-related products, concluding:

Earlier this week, a top Russian Bitcoin mining executive predicted that BTC prices could rise to a new all-time high of over $115k this summer.

He suggested that momentum could drive the coin’s price up toward or above $130k in a “moderately positive scenario.”

Also this month, a Russian power firm announced the launch of the country’s first Bitcoin mining-focused closed-end mutual investment fund.