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India to see Asia’s First exchange traded fund for Bitcoin

January 25, 2022

India to see Asia’s First exchange traded fund for Bitcoin
Asia’s first Bitcoin and Ether futures exchanged-traded fund (ETF) will reportedly be launched in GIFT city, a Special Economic Zone in Gujarat, by March this year, if it gets regulatory approval.
 
Torus Kling Blockchain IFSC has signed a memorandum of understanding with India INX (the international arm of Bombay Stock Exchange) to develop digital asset-based financial products in India, Economic Times detailed.
 
This comes as Bitcoin, alongside other cryptocurrencies, saw a worldwide crash this month that wiped out more than $1 trillion off of the crypto market value.
 
An exchanged-traded fund (ETF), like a mutual fund, can be viewed as a basket of securities that tracks an index, sector, commodity, future, or other assets.
 
What makes it different is that it can be traded on a stock exchange very much like a regular stock. The ETF share prices fluctuate all day as it is traded, unlike mutual funds that only trade once every day after the market closes.
 
Futures are derivative financial contracts in which parties agree to exchange an asset (or the cash equivalent) at a future date and price, which are decided in advance.
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