Depending on the approval of a financial regulator. So, India could soon obtain its first Bitcoin and Ethereum futures exchange traded funds (ETFs).
According to a news release, India INX, the international arm of BSE (previously Bombay Stock Exchange). Then, and Torus Kling Block Chain IFSC have applied for regulatory permission for a Bitcoin and Ethereum Futures ETF.
Torus Kling Block Chain, a joint venture between Cosmea Holdings. Then, and Kling Trading India, is also launching discount certificates for large-cap firms listed in the United States. Of course, such as Meta and Nvidia, with an emphasis on the metaverse.
The trading platform will be provided by India INX, the liquidity will be provided by Torus Kling Block Chain IFSC. Then, the distribution of Bitcoin and Ethereum microfutures will be handled by Cosmea Holdings.
Torus Kling Block Chain, which hopes to receive regulatory certification from the International Financial Services Centres Authority in March. Thereby, plans to manage $1 billion in assets in the first two years through ETFs and discount certificates.
Indians will be able to invest in crypto futures ETFs through brokers under registration with India INX after regulatory authorisation is live.
Despite legal uncertainties, the number of cryptocurrency investors in India more than quadrupled from 7 million in 2020 to 15 million last year. That’s, the digital asset market rose by 39% from 2020 to $74.2 million in FY2021.
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