Home |Hyderabad| Hyderabad Based Kling And Cosmea Launch Indias First Bitcoin Etfs
Hyderabad-based Kling and Cosmea launch India’s first Bitcoin ETFs
Hyderabad: Hyderabad-based blockchain startup Kling Trading India and Cosmea Financial Holdings’ joint venture Torus Kling Blockchain IFSC on Thursday has signed an MoU with India INX to launch India’s first Bitcoin and Ethereum Futures ETFs and Metaverse US listed Large-cap Discount Certificates. This Bitcoin / Ethereum Futures / ETFs, a press release said, will be […]
Hyderabad: Hyderabad-based blockchain startup Kling Trading India and Cosmea Financial Holdings’ joint venture Torus Kling Blockchain IFSC on Thursday has signed an MoU with India INX to launch India’s first Bitcoin and Ethereum Futures ETFs and Metaverse US listed Large-cap Discount Certificates.
This Bitcoin / Ethereum Futures / ETFs, a press release said, will be the first crypto backed futures ETF outside of the US and the first Asian Discount certificates tracking Metaverse Large Cap stocks in US and Europe markets. The ETF Futures will be launched under a Sandbox construct of IFSCA.
Torus Kling Blockchain will be the liquidity provider to India INX by providing round the clock deep liquidity with smart order routing. The product will be distributed through Torus global distribution team and partners. The JV is targeting $1 billion (AUM) in the first two years from customers interested in participating in blockchain backed products through ETF’s and Discount certificates.
“India INX at GIFT IFSC is looking at exploring the launch of Digital Asset based products and has already made an application to IFSCA under the Regulatory Sandbox,” said V Balasubramaniam, managing director and CEO, India INX.
“New Asset class is the tip of the iceberg. Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of CryptoCurrency Exchanges,” said Krishna Mohan Meenavalli, CEO, Torus Kling Blockchain IFSC.
Torus Kling Blockchain IFSC plans to launch the ETF by the end of this fiscal, subject to regulatory approval.
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