The Moscow exchange has launched a landmark Bitcoin index that could serve as an underlying asset for financial instruments in the future.

Gate News bot news, Russia’s largest stock exchange Moscow Exchange (MOEX) has recently launched a new MOEX derivation market Bitcoin index (MOEXBTC), marking an important step towards the Crypto Assets market. This initiative signifies a critical moment, as the index may ultimately become the underlying asset for various financial instruments on the exchange.

According to TASS, the exchange stated: “The index code is MOEXBTC. This Bitcoin index will be calculated based on the price data of perpetual contracts and swap contracts for the BTC/USDT trading pair from the four major mainstream crypto asset exchanges.”

The MOEXBTC index will be calculated using a price-weighted average and will incorporate specific weighting factors from selected trading platforms. This method aims to provide a comprehensive and representative measure of the BTC value across major global exchanges. MOEX states: “In the future, this index could serve as the underlying asset for financial instruments.”

This development is based on MOEX’s recent involvement in cryptocurrency-related businesses. On June 4, the exchange began trading futures contracts linked to the value of Crypto Assets (Bitcoin Trust ETF) for qualified investors. Market participants interviewed by TASS noted that investors have shown strong interest in this tool.

In addition, the Central Bank of Russia approved the issuance of derivative financial instruments, securities, and digital financial assets linked to the value of crypto assets to qualified investors in May. However, regulators remain cautious and continue to advise financial institutions and their clients not to invest directly in crypto assets.

Source: Bitcoin.com