Bitcoin News

CoinDCX CEO Hails Shashi Tharoor’s Bitcoin ETF Investment

CoinDCX Co-founder Sumit Gupta expressed optimism as the media revealed that senior Congress member, Shashi Tharoor, has invested in Bitcoin ETFs.
Published by
CoinDCX CEO Hails Shashi Tharoor’s Bitcoin ETF Investment

Highlights

  • Shashi Tharoor has invested a sizable portion of his portfolio into Bitcoin ETFs.
  • CoinDCX CEO Sumit Gupta lauded Tharoor's initiative to invest in these funds.
  • However, the Spot Bitcoin ETFs have been losing steam in the US with lesser inflows.

CoinDCX CEO Sumit Gupta has lauded senior Congress leader and three-time Lok Sabha MP Shashi Tharoor for his investment in Spot Bitcoin (BTC) ETFs. Gupta took to social media platform X to express his appreciation, stating, “Glad to know Shashi Tharoor knows #Bitcoin!”

Advertisement

CoinDCX Commends Shashi Tharoor For Bitcoin ETF Investment

In addition, Gupta highlighted CoinDCX’s efforts in educating people about crypto for over six years and their recent awareness campaigns aimed at helping individuals #KnowBitcoin. He expressed encouragement at seeing Tharoor’s investment in Bitcoin ETFs. Moreover, the CoinDCX CEO stated that it could boost confidence among more Indians to explore the crypto space.

He wrote, “So, it is encouraging to see Shashi Tharoor’s portfolio includes exposure to Bitcoin. This can give more Indians the confidence to explore crypto!” Tharoor’s investments span various sectors, with significant holdings in government bonds, ELSS funds, flexi cap, and multi cap portfolios. Notably, he holds a Bitcoin ETF worth Rs 5,11,314 ($6135), alongside substantial investments in foreign equities and corporate bonds.

Tharoor’s choice to invest in Bitcoin ETF reflects a growing interest in cryptocurrencies among traditional investors and politicians in India. Moreover, it comes as a relief to the crypto community that is devastated due to the stringent legal scrutiny.

According to an affidavit filed with the Election Commission of India, Tharoor’s investment portfolio is diverse, including top mutual fund schemes, government bonds, foreign equities, corporate bonds, and Bitcoin ETFs. The affidavit reveals Tharoor’s total movable assets amounting to about Rs 49.3 crore ($5.91 million). Meanwhile, immovable assets valued at Rs 6.75 crore ($810,535).

Also Read: Spot Bitcoin ETF: BlackRock Adds Goldman Sachs, Others As APs

Advertisement

Spot BTC ETF Flows Plunge

In recent days, the Bitcoin ETF market has witnessed a decline in overall capital influx, stabilizing at approximately $100 million per day. Simultaneously, outflows from GBTC have reached their lowest point this month, while inflows into BlackRock’s IBIT and Fidelity’s FBTC have dwindled. On Thursday, April 4, total Bitcoin ETF inflows amounted to $106 million.

Meanwhile, IBIT attracting $144 million in inflows and GBTC experiencing $79 million in outflows. On the other hand, recent data reveals that the surge in Spot Bitcoin ETF investments over the past two months has significantly contributed to the BTC price surge to $73,750.

Eric Balchunas, an analyst at Bloomberg ETF, sheds light on a notable trend. The trend suggests the majority of BTC’s 40% price increase since the ETF’s launch has occurred during after-hours trading sessions. Moreover, this phenomenon resulted in significant price disparities between closing and opening prices.

Also Read: Monochrome Pioneers Australia’s Maiden Spot Bitcoin ETF Launch

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

FLOKI Makes History With First ETP in Europe as Price Surges 30%

FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…

October 4, 2025
  • 24/7 Cryptocurrency News

BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert

Binance Coin (BNB), the native cryptocurrency of BNB Chain, has surged another 8% today, moving…

October 4, 2025
  • 24/7 Cryptocurrency News

Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury

Trump’s real estate portfolio is set to go on-chain amid World Liberty Financial’s announcement of…

October 4, 2025
  • 24/7 Cryptocurrency News

ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3

Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the…

October 4, 2025
  • 24/7 Cryptocurrency News

MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch

MetaMask, Consensys’ Web3 wallet, is set to introduce a reward points system for on-chain activities.…

October 4, 2025
  • 24/7 Cryptocurrency News

Coinbase Joins Ripple and Circle In Applying For National Banking License

Crypto exchange Coinbase has applied for a national trust charter, joining the likes of Ripple,…

October 4, 2025