Asia’s 1st crypto ETF may roll out in GIFT City

MUMBAI: Asia’s first cryptocurrency exchange-traded fund (ETF) could be launched in India’s GIFT City this year.
Torus Kling Blockchain IFSC, a joint venture between Mumbai-based Cosmea Financial Holdings and Hyderabad-based Kling Trading India, has signed an MoU (memorandum of understanding) with BSE’s international arm India INX to launch digital asset-based products, which will be traded in GIFT City’s IFSC (international financial services centre).
The development comes after the US securities regulator SEC in October 2021 allowed launch of a crypto futures ETF, the first such in the US. ETFs like these track returns from cryptocurrencies without investing directly in the digital tokens.


The Torus Kling crypto futures ETF will be launched in a sandbox environment, which is under GIFT regulatory authority IFSCA. Such a sandbox allows regulated entities to launch and…

Source link



Please enter your comment!
Please enter your name here