Torus Kling Blockchain IFSC announces its plan to launch India’s first Bitcoin and Ethereum futures ETF and Metaverse US-listed large-cap discount certificates.
Torus Kling Blockchain IFSC is a 50:50 joint venture between Sam Ghosh promoted Cosmea Financial Holdings (CFH) and Kling Trading India. Sam Ghosh is former Reliance Capital CEO.
As per the MoU, India INX will be the trading platform and Cosmea Financial Holdings will be the distributor, while Kling Trading will be the technology partner.
Krishna Mohan Meenavalli, Torus Kling Blockchain IFSC CEO, said:
“New Asset class is tip of the iceberg. Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency Exchanges.”
This Bitcoin & Ethereum futures ETF will be the first crypto-backed futures ETF outside of US and the first Asian discount certificates tracking Metaverse large-cap stocks in US and Europe markets.
It aims to clock $1 billion of assets under management (AUM) within two years and will also track large-cap metaverse stocks in the US and Europe markets.
The ETF futures will be launched under a sandbox construct of IFSCA. The company expect to launch by the end of the current financial year.
Read Also: Canadian Securities Regulator Approves First North American Bitcoin ETF
