The Bitcoin & Ethereum futures ETF will be the first crypto-backed futures ETF outside the US and the first Asian Certificates of Debit to track large Metaverse stocks in the US and European markets.
ETF futures contracts will be launched under the creation of a hedge fund by the IFSCA.
Torus Kling Blockchain will be the liquidity provider for India INX by providing 24/7 deep liquidity with intelligent order routing. The product will be distributed through the Torus global distribution team and partners.
Torus Kling Blockchain targets $1 billion in AUM in the first two years from customers participating in blockchain-backed products through ETFs and Debit Certificates.
“India INX at GIFT IFSC is looking at exploring the launch of digital asset-based products and has already submitted an application to the IFSCA under a regulatory sandbox. This is part of our product innovation initiative to benchmark offerings with other international financial centers,” said Mr. V. Palasupramaniam, Member Managing Director and CEO of India INX, “We will launch products in these new assets in accordance with the prevailing laws after receiving all required regulatory approvals thereafter.”
“The new asset class is the tip of the iceberg.” Krishna Mohan Minavali, CEO of Torus Kling Blockchain IFSC, said the exchange’s trading products allow trading through regular investment accounts, bypassing security issues and concerns about cryptocurrency exchanges.
The Torus Kling Blockchain IFSC plans to launch an ETF in Gift City by the end of this fiscal year, according to IFSCA and other regulatory approvals.
According to reports, the global derivatives trading volume of the cryptocurrency market has reached 3.2 trillion USD, while the total spot trading volume has decreased by half a billion USD to 2.7 trillion USD. In India, AUMs of ETFs nearly doubled from Rs 1.5 crore to Rs 2.9 crore during fiscal year 21. Also, Exchange Traded Products (ETPs) accounted for more than US$ 1 trillion representing 15% of all ETF assets globally. the scientist.