The Moscow Exchange has announced its plans to introduce a fund that will monitor one of the largest Ethereum exchange-traded funds (ETFs) globally, following the recent introduction of a Bitcoin index futures product.
According to a report from the Russian media outlet RBC, Maria Patrikeyeva, Managing Director of the Moscow Exchange Derivatives Market, confirmed that the Ethereum (ETH) fund is set to launch in August.
Maria Patrikeyeva, the Managing Director of the Moscow Exchange Derivatives Market. (Source: RBC Investing/Screenshot)
Moscow Exchange: Ethereum Fund to Launch in August
Patrikeyeva stated that the exchange anticipates commencing trading on a futures contract for a fund that invests specifically in Ethereum. She elaborated:
“The fund’s underlying asset will be the BlackRock-managed iShares Ethereum Trust ETF, with the quotation mirroring the cost of a single share. The contract size will be slightly reduced compared to that of the IBIT, which is associated with the iShares Bitcoin Trust ETF.”
The iShares Ethereum Trust ETF, which is traded on the NASDAQ exchange in New York, was launched in July 2024.
iShares Ethereum Trust ETF prices over the past six months. (Source: Financial Times)
Exchange Grows Crypto-keen
The Moscow Exchange has shown a growing enthusiasm for cryptocurrencies this year, having launched its inaugural Bitcoin (BTC) futures contract on June 4.
This product is currently available only to qualified investors, settled in rubles, and linked to the value of BlackRock’s IBIT ETF.
Last month, the exchange indicated that the rollout of a new Bitcoin derivative product is “imminent.”
Moreover, it awaits regulatory green lights for the introduction of mutual funds and structured bonds targeting cryptoasset indices.
Patrikeyeva noted that the exchange aims to roll out additional futures products in the coming month.
Among these will be a product that tracks American investment funds focused on U.S. government bonds, with the underlying asset being the iShares 20+ Year Treasury Bond ETF (TLT).
This represents the first futures contract on the Moscow Exchange to reflect the performance of U.S. debt securities.
Additionally, Patrikeyeva confirmed that futures offerings for shares in major Chinese technology firms Tencent and Xiaomi will be launched this week.
Both Tencent and Xiaomi are currently listed on the Hong Kong Stock Exchange.
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