Cryptos - India to have it's First Blockchain ETF, Thanks to Torus Kling Blockchain IFSC

Hello Crypto Lovers,

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The growth of India's quest for Cryptocurrencies has increased since the voice to ban those in the country and now, there another new to that list of growing Crypto curiosity.

Yes, India is to have it's First Bitcoin ETF as Torus Kling Blockchain in 50:50 sharing with Cosmea Financial Holdings is to bring the Bitcoin ETF's to India.

Cosmea Financial Holdings is promoted by Sam Ghosh, a former CEO of Reliance Capital and Torus Kling Blockchain's India unit known as Kling Trading India have signed up a Memorandum of Understanding (MoU) to launch India's First ever Bitcoin and Ethereum futures ETF.

What is ETF?

ETF is the abbreviated form of Exchange Traded Funds and ETF is a type of security which tracks the index or asset or commodity or even a particular sector about it's performance and it is similar to normal stocks we trade on exchanges such as an Apple, Tesla, ICICI, HDFC or even Amazon shares.

ETF for Blockchain will be based on different Cryptos such as Bitcoin, Ethereum, Doge or even our very own Hive, but, right now, Torus Kling has planned to start ETF's for Bitcoin and Ethereum in India.

And India will be the Second country to have Crypto ETF's after United States.

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Torus Kling plans to have US $1 billion worth assets under management (AUM) in the First 2 years.

Along with ETF, Torus Kling is also planning to bring out large cap discount certificates from Metaverse listed in US.

Blockchain ETF stats:

The reports say that, there was about UD $3.2 trillion worth Cryptocurrency transactions for derivatives trading volume while the spot volume for the same was worth US $2.7 trillion.

India's number for the ETF AUM were INR 2.9 Lakh crore fr Financial year 2021.

The numbers keep increasing as the user base for Crypto trading grows in India.

Traders are expecting there will be a resolution to ever growing request for Crypto regulation in India in the upcoming budget session which is expected to start 31st of this month.

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While we cal this as India's First ETF, in actual, it will be First Blockchain ETF in whole of Asia itself as US is the only country having Blockchain ETF right now.

This adds another First to India and should force the Government further to look at the benefits of Blockchain and inflow of money to Government thru these Blockchain related investments by people of India.

The Government although hasn't disclosed the banning of Cryptos, the India's major bank, Reserve Bank of India, who is the policy maker related to banks, is in favor of total ban and unless Government sees strong points to utilize the benefits of Blockchain, RBI may push it further.

The year 2021 has been a good one for India in terms of fintechs and Blockchain technologies along with Cryptos and the investment into Cryptos has grown by multi-fold compared to previous years and there are more exchanges and many more are willing to start their business in India and these all shows they aren't feared of a ban which is also very unlikely given the circumstances.

Let's all push further to make it a yes for crypto regulation by Government of India.

I hope you like this content, do let me know as a comment and I would like to bring such blogs in future as I always I do.

Thanks to you all for the support in whatever form it is and if you are from India, I am wishing you Happy Lohri/Pongal/Sankranthi based on what you call :)

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Looking forward to bring out more blogs in this new year.

Wishing you a wonderful day :)

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