India’s first Bitcoin ETF likely to come in gift city

India’s first Bitcoin and Ethereum Futures ETF could come up in Gift City if the International Financial Services Center (IFSCA) gives its blessings to India INX.

The worldwide arm of BSE alongside Kling Block Chain IFSC has looked for approvals to launch digital asset based products at the GIFT IFSC. The exchange has signed a notice of comprehension with Kling Block Chain IFSC to explore and launch the products.

V Balasubramaniam, MD and CEO, India INX, said, “India INX at GIFT IFSC is taking a gander at investigating launch of digital asset based products and has effectively made an application to IFSCA under Regulatory Sandbox. This is a part of our product innovation initiative for benchmark our contributions with other international finance centres. We will launch products in these new age assets in complete consistence with the common laws after receiving to getting all required regulatory approvals.”

Torus Kling Blockchain IFSC, a 50:50 joint venture between Sam Ghosh-promoted Cosmea Financial Holdings and Kling Trading India, is taking a look at India’s first Bitcoin and Ethereum Futures ETF and Metaverse US listed large cap discount certificates. This will be the first crypto-upheld prospects ETF outside the US. Torus Kling Blockchain will give India INX nonstop deep liquidity with smart order routing. The product will be distributed through Torus’ worldwide distribution team and partners.