Moscow: The Moscow Exchange (MOEX), Russia's largest stock market, announced its plan to introduce futures trading linked to Ethereum starting on August 5. This move will allow only qualified investors to participate in transactions that will be based on the iShares Ethereum Trust exchange-traded fund (ETF), managed by the US-based investment firm BlackRock.

According to Anadolu Agency, MOEX had previously begun calculating and publishing a Bitcoin index on June 10, alongside initiating trading on the BlackRock-owned iShares Bitcoin Trust ETF. This expansion into cryptocurrency-linked futures marks a significant development for MOEX as it continues to broaden its financial offerings.

In a related development, Russian President Vladimir Putin signed a law in August 2024, which legalized the experimental use of cryptocurrencies in international payments and foreign exchange transactions. The popularity of cryptocurrencies in Russia has been on the rise, partly due to Western sanctions on the country, with Russian firms increasingly utilizing crypto for international trade settlements.