Moscow Exchange to Launch Ethereum Fund Tracking BlackRock ETF in August

The Moscow Exchange has announced its plans to launch a new fund that will track the performance of one of the world’s largest Ethereum ETFs. This development comes just a few weeks after the exchange introduced a Bitcoin index futures offering. The Ethereum (ETH) fund is expected to debut in August, according to Maria Patrikeyeva, the Managing Director of the Moscow Exchange Derivatives Market.

Patrikeyeva confirmed that the fund’s underlying asset will be the BlackRock-run iShares Ethereum Trust ETF, which trades on the NASDAQ exchange and was launched in July 2024. The quotation for the new fund will be equal to the cost of one share of the iShares Ethereum Trust ETF. The contract size for this new offering will be slightly smaller than that used for the iShares Bitcoin Trust ETF (IBIT).

The Moscow Exchange has shown a growing interest in cryptocurrencies this year. In June, the exchange launched its first Bitcoin (BTC) futures contract, which is cash-settled in rubles and tied to the value of BlackRock’s IBIT ETF. This product is currently restricted to qualified investors. The exchange has also hinted at the imminent launch of a new BTC derivative instrument and is awaiting regulatory approval for the launch of mutual funds and structured bonds that focus on cryptoasset indices.

In addition to the Ethereum fund, the Moscow Exchange plans to introduce more futures products next month. One of these products will track American investment funds that invest in US government bonds. The underlying asset for this futures contract will be the iShares 20+ Year Treasury Bond ETF (TLT), marking the first future contract on the Moscow Exchange to track the dynamics of US debt securities. Patrikeyeva also confirmed that the exchange is set to debut futures offerings for shares in the tech giants Tencent and Xiaomi, which currently trade on the Hong Kong Stock Exchange.

This series of developments underscores the Moscow Exchange’s strategic move to expand its offerings in the cryptocurrency and financial derivatives markets. By introducing these new products, the exchange aims to provide investors with more diverse investment options and to capitalize on the growing interest in digital assets and financial instruments.