Moscow Exchange will offer qualified investors perpetual futures linked to indices for Bitcoin, Ethereum, Solana, XRP and Tron from Sept. 22. Perpetual futures are derivative contracts that renew automatically rather than expiring on a fixed date, allowing traders to maintain positions without closing and reopening them each day. MOEX’s first crypto futures, launched last summer, have attracted more than 72,000 qualified investors and generated over 600 billion rubles in volume. The new contracts could draw additional liquidity and give professional traders a regulated venue for ongoing hedging and speculation. Retail investors remain excluded from these contracts, even though Russia has opened crypto trading to retail investors while retaining its ban on crypto payments. That professional-only structure may encourage larger institutional participation but also limits the potential trading base. Broker participation will be important in bringing more qualified accounts to the market. Bitcoin and Ether could account for most early activity because of their established demand, while stronger participation in Solana, XRP and Tron would indicate broader market expansion. Rising open interest alongside sustained volume would suggest deeper positioning; fading activity would mean the expansion added products without materially improving market depth.