March 27, 2024
Indian Investors Get Access to U.S. Bitcoin ETFs Through Mudrex Platform
Bitcoin ETF

Indian Investors Get Access to U.S. Bitcoin ETFs Through Mudrex Platform

Mudrex, a leading Indian cryptocurrency investment platform, is poised to revolutionize India’s digital asset investment landscape with its upcoming offering of U.S. spot bitcoin (BTC) exchange-traded funds (ETFs). CEO and co-founder Edul Patel announced this groundbreaking initiative, highlighting its significance for institutional and retail investors.

Unprecedented Access for Institutions

Patel emphasized the unique value proposition of Mudrex’s service, stating, “This is much more valuable to institutions, as this was already available to retailers.” Mudrex aims to bridge the gap by becoming the first Indian platform to offer U.S. bitcoin ETFs to institutional investors, marking a significant milestone in the country’s crypto investment sphere.

Strategic Listing of ETFs

As part of its initial phase, Mudrex plans to list four spot ETFs, including offerings from renowned firms such as BlackRock, Fidelity, Franklin Templeton, and Vanguard. This strategic selection aims to provide investors with diversified options while tapping into the expertise and credibility of established financial institutions.

Operational Framework and Regulatory Landscape

Headquartered in California and backed by Y-Combinator, Mudrex boasts a subsidiary registered with the Intelligence Unit of India, with additional licenses in Lithuania and Italy. Patel revealed that while the transactions will be processed through broker partners in the U.S., Mudrex’s Indian subsidiary will facilitate the spot bitcoin ETF service. This development comes amidst India’s complex regulatory environment, with differing stances from entities such as the Reserve Bank of India (RBI) and the Finance Ministry.

Facilitating Investments through the LRS

Patel highlighted the significance of the Liberalised Remittance Scheme (LRS) in enabling overseas investments for Indian investors. Under this scheme, Mudrex will facilitate investments in spot bitcoin ETFs on its platform, with a minimum investment of $5,000 and a maximum of $250,000. Patel emphasized the importance of Mudrex’s strong banking relationships in ensuring a seamless user experience for investors.

Anticipated Market Response

With an average ticket size of $110,000 expected per transaction, Mudrex anticipates significant volumes in spot bitcoin ETF investments. Patel revealed that among the 350 institutions affiliated with Mudrex, approximately 20 have already initiated the process of joining, signalling strong interest in the platform’s offerings.

Conclusion

As Mudrex prepares to roll out its innovative spot bitcoin ETF service, it stands poised to reshape the investment landscape in India, providing both institutional and retail investors with unprecedented access to digital assets through regulated channels. With its strategic approach and commitment to facilitating seamless transactions, Mudrex is set to carve a prominent niche in India’s evolving crypto investment ecosystem.

Image: Wallpapers.com

Related posts

Coinbase: Spot Bitcoin ETF Flows Trump Fundamentals in Crypto Market Focus

Bran Lopez

Bitcoin ETFs Surge as Gold ETFs Face $2.4 Billion in Outflows

Robert Paul

Bitcoin ETF Greenlight Equated to ‘Naked Emperor’ by ECB Authorities

Christian Green

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Index