MOEX Debuts Bitcoin Perpetual Futures with Modest Debut-Day Volume

The Moscow Exchange has added Bitcoin perpetual futures to its lineup of crypto derivatives, marking a significant development in Russia's regulated trading landscape. On September 22, the exchange launched the new product, which recorded $1.3 million in debut-day volume. This may seem modest compared to other global exchanges, but it carries weight for MOEX and Russian traders.

The perpetual futures are structured as one-day instruments with automatic daily rollover, allowing traders continuous exposure without the hassle of manually rolling positions each month. Unlike standard contracts that expire on a set date, these perpetuals give investors access to Bitcoin price movements on a daily basis.

Traders can access roughly 4.5x leverage on Bitcoin positions due to a 22% margin requirement. The contracts are priced in US dollars but cash-settled in rubles, ensuring MOEX stays within the regulatory guardrails set by the Bank of Russia. This arrangement allows Russian investors and institutions to gain synthetic exposure to dollar-denominated Bitcoin price movements without needing to hold dollars directly.

The launch of perpetual futures is part of a broader expansion effort by MOEX, which has been adding new crypto derivatives contracts over time. In late 2025, the exchange introduced monthly futures on Bitcoin and Ether, followed by contracts on Solana, XRP, and Tron in May 2026.