Indian INX exchange reportedly plans to list Bitcoin futures ETF

Despite the ongoing uncertainty about cryptocurrency regulation in India, local financial firms are backing new ventures aiming to launch Bitcoin (BTC) exchange-traded funds (ETF).

Torus Kling Blockchain, a joint venture between Cosmea Financial Holding, a financial firm backed by former Reliance Capital CEO Sam Ghosh, and Kling Trading India, is preparing to launch Bitcoin and Ether (ETH) futures ETFs in India, The Economic Times reported Thursday.

The company has signed a memorandum of understanding with India’s major stock exchange, the India International Exchange (INX), to launch crypto ETFs alongside investment products tracking major metaverse-related companies listed in the United States.

According to the report, Torus Kling Blockchain is planning to set up the ETFs in the Gujarat International Finance Tec-City (GIFT City) by the end of the current fiscal year in India, or by the end of March 2022. The ETFs are subject to approval by India’s International Financial Services Centres Authority (IFSCA)

Keep reading this article on Cointelegraph.com.

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