In a groundbreaking move, Mudrex, a global cryptocurrency platform, has announced the launch of US Bitcoin Exchange-Traded Funds (ETFs) for Indian investors. This initiative marks a significant milestone in bridging the gap between traditional investment avenues and the burgeoning world of digital assets.
Mudrex, backed by Y Combinator, has made a bold step by listing four prominent spot ETFs – BlackRock, Fidelity, Franklin Templeton, and Vanguard – on its platform. Indian investors now can invest in these ETFs through systematic investment plans (SIP) or lump-sum investments.
The introduction of US Bitcoin ETFs by Mudrex is particularly noteworthy given the regulatory environment in India. Despite the Reserve Bank of India's (RBI) cautious stance on cryptocurrencies, the Finance Ministry's Financial Investigation Unit has registered numerous Indian crypto service providers and imposed stringent taxes on the sector.
Edul Patel, CEO & Co-founder of Mudrex, expressed that the decision to launch Bitcoin spot ETFs was driven by the increasing demand and user requests on their platform. He emphasized the company's commitment to empowering investors with a diverse range of crypto products, offering a seamless and accessible avenue to navigate the dynamic digital asset landscape.
Investors can start with a minimum investment of US$5,000 and go up to the LRS limit of US$250,000 per year. The platform allows investors to select individual spot ETFs, create a bespoke basket, or choose from pre-listed options depending on market capitalization.
Mudrex operates in full conformity with local regulatory organizations in India and the European Union. It is a registered entity with the Financial Intelligence Unit (FIU) in India and holds EU licenses for Virtual Asset Service Providers (VASPs).
This achievement is exceptional and demonstrates Mudrex's dedication to providing innovative investing solutions in a quickly changing digital asset world. As Bitcoin touched its all-time high of US$71,677, mainly due to the enthusiasm around Bitcoin ETFs, Mudrex's initiative is timely and positions it as a pioneer in the crypto investment space.
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