Indian crypto investment platform Mudrex has introduced spot Bitcoin ETFs, allowing both retail and institutional investors to engage in Bitcoin trading without the need to create an account on a cryptocurrency exchange. The move follows the recent approval of BTC ETFs in the US, leading to a significant capital influx into the cryptocurrency market.
ETFs, which track the value of the underlying asset, provide a gateway for investors to interact with Bitcoin through traditional market exchanges rather than crypto platforms. Mudrex, responding to user demand, has set the minimum investment amount at $5,000 and the maximum at $250,000, offering flexibility for a range of investors.
Initially, Mudrex will enable investment in four spot ETFs: BlackRock, Fidelity, Franklin Templeton, and Vanguard. Investors can choose between systematic investment plans (SIP) or lump-sum investments, tailoring their approach to individual financial goals. KYC completion is a prerequisite for those looking to venture into BTC ETFs on the platform.
Edul Patel, CEO and Co-founder of Mudrex, expressed the platform’s commitment to providing flexibility and accessibility in navigating the dynamic digital asset landscape. The US SEC’s approval of 11 Bitcoin ETF applications in January contributed to a surge in Bitcoin’s value, reaching $69,225.
The article concludes by highlighting the potential for India to approve ETFs for both BTC and ETH in the near future. A memorandum of understanding (MoU) has reportedly been signed between Torus Kling Blockchain IFSC and India INX to launch the first Bitcoin and Ethereum futures ETFs outside the US, indicating a growing acceptance of cryptocurrency investments in the country.
