Mudrex opens up BTC ETF investments to Indians with a minimum commitment of $5000

Members of the Indian crypto community can now invest in spot Bitcoin ETFs (Exchange Traded Funds) through Mudrex. The Indian crypto investment platform announced the launch of this service on its app on Monday, March 11. Both retail and institutional investors will be able to use this service to engage in Bitcoin trading without having to create an account on the exchange and buy cryptocurrency. Since BTC ETFs were approved in the US this January, the cryptocurrency has seen a huge influx of capital from investors.

ETFs track the value of the underlying asset and trade on traditional market exchanges, not crypto exchanges. This allows people to commit to Bitcoins without having to register with a crypto platform.

Mudrex, as it says in its announcement, decided to bring this service to the platform after seeing repeated requests from its users. The minimum amount for people to start investing in Mudrex’s BTC ETF stands at $5000 (roughly Rs. 4.13 lakh), while the maximum amount can be $250,000 (roughly Rs. 2 crore). While this amount may be manageable for retail and institutional investors, it can be a large financial undertaking for individual investors.

To begin with, the platform will allow Indians to invest in four spot ETFs – BlackRock, Fidelity, Franklin Templeton and Vanguard.

“Investors can choose between systematic investment plans (SIPs) or lump sums tailored to their financial goals. Mudrex allows investors to select individual spot ETFs, create a custom basket, or select pre-listed options depending on market capitalization,” the company’s official release said.

People who wish to experiment with BTC ETF investments must first complete their KYC with the platform.

“We aim to enable investors to have the flexibility to invest in a diverse range of crypto products, offering a seamless and affordable path to navigate the dynamic digital asset landscape,” Edul Patel, CEO and co-founder of Mudrex, said in a statement.

In a historic development, the US SEC finally gave the green light to 11 Bitcoin ETF applications in January this year. US-listed exchange-traded funds reportedly traded shares worth $4.6 billion (roughly Rs. 38,065 crore) in the first 24 hours.

The approvals of these BTC ETFs played a vital role in making the value of Bitcoin jump to its current price of $69,225 (roughly Rs. 57.2 lakh). Bitcoin is now rapidly moving towards a new all-time high.

India may also see the approval of BTC and ETH ETFs in the coming days. In January this year, a memorandum of understanding (MoU) was reportedly signed between Torus Kling Blockchain IFSC and India INX to launch the first Bitcoin and Ethereum futures ETFs outside the US. India INX is the first international exchange platform in the country.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on an accepted recommendation, forecast or other information contained in the article.