Exchange-traded funds (ETFs) are of great importance for more institutional investors to increase their interest in cryptocurrencies and increase their adoption rate.
After the first Bitcoin Futures ETF started to be traded in the US, moves came from other countries as well.
Finally, according to information from local news sources, a futures ETF based on Bitcoin and Ethereum will be launched in India.
Torus Kling Blockchain, a joint venture of Cosmea Financial Holdings and Kling Trading India, has partnered with India INX “India’s first international exchange and a subsidiary of Bombay Stock Exchange) to launch India’s first Bitcoin and Ethereum futures ETF. signed the agreement.
The ETF in question is the first crypto-backed futures ETF outside of the US.
ETF futures will be released under a sandbox structure of IFSCA.
Torus Kling Blockchain will be India INX’s liquidity provider, providing 24-hour deep liquidity with smart order routing. The product will be distributed through the Torus global distribution team and partners.
Torus Kling Blockchain aims to generate $1 billion in revenue in the first two years from customers participating in blockchain-powered products through ETFs.