XRP Enters Russian Institutional Market...Moscow Exchange to Unveil New Index on May 13

▲ Solana (SOL), XRP, Tron (TRX), BNB, Russia/AI-generated image

The trend of digital assets being incorporated into the institutional framework is becoming clearer as Russia's largest stock exchange moves to calculate indices for major altcoins, including XRP. The new index will also include Solana (SOL), TRX, and BNB.

CriptoPotato reported on May 5, citing local media Bits Media, that the Moscow Exchange plans to calculate and publish a cryptocurrency index that tracks the price movements of XRP, Solana, TRX, and BNB. The price data for this index will be composed of Binance (50%), Bybit (20%), OKX (15%), and Bitget (15%).

The Moscow Exchange will launch four cryptocurrency indices tracking Solana, XRP, TRX, and BNB starting May 13. The existing Bitcoin (BTC) index, MOEXBTC, and Ethereum (ETH) index, MOEXETH, will also change to display price information every 15 seconds during trading hours. Currently, these indices are updated only once a day, with results published before 18:00 Moscow time.

The Moscow Exchange plans to expand its cryptocurrency benchmarks to 10 in the future. Candidate assets mentioned include Dogecoin (DOGE), Cardano (ADA), Hyperliquid, and Chainlink (LINK). However, these products will only be available to professional investors.

Maria Silkina, Senior Product Manager at the Moscow Exchange, stated that the company also plans to launch some derivative products that track the performance of the two largest cryptocurrencies by market capitalization. The launch of the new indices coincides with a recent improvement in the digital asset industry's sentiment. CriptoPotato reported that Bitcoin has reached a multi-month high above $80,000, and some altcoins are also trying to follow the upward trend.

The introduction of the new indices by the Moscow Exchange is a measure that officially treats the price movements of XRP and major altcoins as benchmarks in the Russian professional investor market. The restructuring of price data composition and index update methods shows a broadening scope for the use of cryptocurrency-related indicators within the Russian stock market.

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