certify
Home arrow Article arrow Article Detail

India might launch the Asia's first cryptocurrency exchange-traded fund (ETF) in 2022

Profile Image

Pavan A Follow

INDIA

Jan, 17 2022

Jan, 17 2022

likes | comments 0

Article Image

      Even with confusion over the regulatory landscape and no clear messages from the government, India might launch the first cryptocurrency exchange-traded fund (ETF) in Asia this year.

      Cosmea Financial Holdings, based in Mumbai, will launch the product in a joint venture with Kling Trading India, located in Hyderabad. It is expected to launch India's first crypto ETF by the end of this fiscal year.

      Mr. Krishna Mohan Meenavalli, CEO of Torus Kling Blockchain IFSC, remarked that “ETFs allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency exchanges.”

      A Memorandum-of-Understanding (MOU) has already been signed with BSE's international arm India INX regarding the launch of India's first Bitcoin and Ethereum futures exchange-traded fund (ETF).

      GIFT City's International Financial Services Center will offer crypto-based products for trading, which is the planned central business district in Gandhinagar, Gujarat.

      This will be launched in a "sandbox" arrangement that is intended to provide an environment where regulated firms can launch and test their products in a safe and controlled environment.

      There has been no concrete decision on cryptocurrency regulation by the Indian parliament for several years, which has delayed making concrete decisions. But, crypto-related product institutional investment options are steadily expanding in India.

      India is expected to introduce a crypto bill in February's budget session. Industry leaders and investors hope to see a positive change.

      So why cryptocurrency ETF?:

      An investor can track cryptocurrency returns with a cryptocurrency ETF without having to own the digital tokens themselves, which eliminates the hassles and uncertainties associated with traditional cryptocurrency exchanges.

      According to global estimates, the annual derivatives trading volume for cryptocurrencies stands around $3.2 trillion, whereas the spot volume is roughly $2.7 trillion.


      likes | comments 0

      Profile Image

      Pavan A

      CBW - External Analyst

      INDIA

      Comments
      We Are WBS Singapore Award Winners - Top Artificial Intelligence ICO For 2022!
      banner
      Article
      Pentagon Assessing Crypto's Threat to National Security

      In light of the rise of digital assets, the US military's innovation office is launching a comprehensive assessment of cryptocurrencies that will examine how the exposure of digital...;

      Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.