What is MOEXBTC?

Against the backdrop of the accelerated integration of the Russian financial market with crypto assets, the Moscow Exchange (MOEX) launched a new index on June 10, 2025: the MOEXBTC Bitcoin Derivation Index. This index aims to reflect the price trend of Bitcoin perpetual contracts on major exchanges and can serve as a foundational reference index for future financial products.

The trend of integration between the Russian market and crypto assets

In recent years, Russia’s attitude towards crypto assets has gradually shifted to a conservatively open stance. Although there are still restrictions on the free circulation of cryptocurrencies, the Russian government and financial institutions have begun to explore the use of crypto derivation tools within a regulatory framework to attract investors and test market acceptance. The launch of MOEXBTC is an important development in this trend.

The data source and calculation method of MOEXBTC

The MOEXBTC index does not directly adopt the Bitcoin spot price, but rather focuses on the derivation price of the BTC/USDT perpetual contract, with data sourced from four major global cryptocurrency trading platforms:

• Binance (50%)
• Bybit (20%)
• OKX (15%)
• Bitget (15%)

The prices on these platforms are weighted averages based on their respective trading volumes, and the index is updated once every day at 12:30 PM (Moscow time). The weighting ratios will be adjusted quarterly based on actual trading data to ensure that the market reflects accuracy and transparency.

Why launch MOEXBTC?

MOEXBTC is not only a price indicator but also has multiple meanings:

• As the underlying basis of financial products: future ETFs, futures, or other crypto-related derivations in Russia can be designed and linked to this index.
• Enhancing the observability of the cryptocurrency market: Indexing can help institutional investors more easily track the price fluctuations of Bitcoin without directly engaging in trading cryptocurrencies.
• Regulatory-compliant experimental attempts: Russian authorities can use this to observe the operation of the crypto market under conservative regulation, as a basis for subsequent policy adjustments.

Potential Applications and Limitations of MOEXBTC

Although MOEXBTC is a step forward, its actual application is still subject to several limitations:

• Currently open only to qualified investors and has not yet been popularized in the general market.
• If there are no more derivatives and trading platforms integrated, the market influence of the index will be limited.
• The Central Bank of Russia still holds a reserved position on direct investment in crypto assets, which may limit their widespread application.

Experts generally believe that MOEXBTC is an experimental product bridging traditional finance and crypto assets in Russia, and its long-term development potential is still worthy of attention.

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Summary

MOEXBTC, although a price indicator for Bitcoin derivation, carries a significance that goes far beyond mere data; it symbolizes a shift in the Russian financial system’s attitude towards crypto assets and represents a policy practice aimed at promoting crypto integration. For investors, this is not only a new observational tool but also an important barometer for the future of Russia’s crypto policies and the degree of market openness.