In a groundbreaking move, Mudrex, an Indian cryptocurrency investment platform, is now offering U.S. spot-bitcoin exchange-traded funds (ETFs) to its Indian clientele. This initiative, a first of its kind in India for institutional investors, marks a significant leap in providing Indian investors with access to global cryptocurrency investment vehicles.
Expanding Investment Horizons
Headquartered in California and backed by Y-Combinator, Mudrex has made a strategic decision to introduce four major spot ETFs – namely BlackRock, Fidelity, Franklin Templeton, and Vanguard – to the Indian market. This initiative not only broadens the investment options available to Indian investors but also paves the way for institutional and retail investors in India to diversify their investment portfolios through reputable U.S. spot-bitcoin ETFs.
Bridging Global Investment Opportunities
Edul Patel, CEO and co-founder of Mudrex, emphasized the importance of this offering, especially for institutional investors. Until now, retail clients could access such ETFs through U.S. stock investing firms. However, Mudrex’s move to include institutional investors fills a significant gap in the market. The firm’s operational framework, with a subsidiary registered with India’s Intelligence Unit and licenses in the European Union, ensures seamless transactions through broker partners in the U.S., facilitated by its Indian arm.
Navigating Regulatory Landscapes
The introduction of U.S. bitcoin ETFs to the Indian market comes at a time when India’s crypto regulatory environment is navigating through a phase of uncertainty. With differing viewpoints from the Reserve Bank of India (RBI) and the Finance Ministry, Mudrex’s offering leverages the Liberalised Remittance Scheme (LRS). This scheme allows Indians to invest in foreign securities, providing a lawful pathway for investing in bitcoin ETFs, with an investment cap ranging from $5,000 to $250,000 per year.
Embracing Global Crypto Trends
Despite the RBI’s cautious stance on cryptocurrencies, Mudrex’s initiative signifies a forward-thinking approach to embracing global investment trends. The service not only offers institutional investors a new avenue to diversify their portfolios with bitcoin
