Created by Cosmea Financial Holdings and Kling Trading India on a parity basis, Torus Kling Blockchain and the International Stock Exchange of India signed a letter of intent to launch ETF based on bitcoin and ethereum futures.
— Kling Finance (@KlingFinance) January 13, 2022
The partners will also launch Asia’s first discount certificates that track the performance of stocks focused on the metaverse of large-cap companies. Details are not specified.
Compliant products are sold within the sandbox of the International Financial Services Authority of India. If approved by regulators, they will be launched by the end of the first quarter.
Under the agreement, Torus Kling Blockchain will become a liquidity provider by providing an order routing system. Torus’ distribution team and partners will distribute the ETF.
The firm intends to raise $1 billion in the instrument over the first two years of operation.
Later it was reported that the authorities legalize digital currencies as an asset class.
However, in November, they again started talking about the intention of the Indian government ban most “private currencies”. This caused a panic in the local market, which led to a short-term local bitcoin price drop by 15%.
In December, the media reported that the authorities still will regulate digital assets instead of their ban.
Found a mistake in the text? Select it and press CTRL+ENTER