Indian Security Regulator Approves First ETF That Will Invest In Crypto Firms
The Securities and Exchange Board of India (SEBI) approved the Invesco CoinShares Global Blockchain UCITS ETF, making it a first of its kind in India. The said ETF in question offers exposure to global crypto and blockchain firm. The CoinShares ETF find holds investments in Canadian bitcoin miner Bitfarms, US crypto exchange Coinbase Global Inc., and the world’s biggest corporate crypto holder MicroStrategy Inc. These kinds of investment funds are quite common in the west but would be a first of its kind in India.
“As blockchain technology is still in its early days, the potential for changing the global economy is immense. Like the internet, blockchain presents an opportunity for investors who can capture this hidden potential,” Invesco MF said in the product document.
Indian government’s stance on crypto regulation is still not clear, but recent speculations indicate that positive regulations might be on the cards given the recent rise in popularity of the crypto market and the growing number of crypto unicorns in India.
US SEC Rejects Spot Bitcoin ETF Proposal
The US SEC rejected the spot Bitcoin ETF proposal by VanEck yesterday claiming the spot BTC market is still not mature enough and might fall prey to market manipulation. The expectations of the crypto community were quite high given the US regulatory body has approved Bitcoin Strategic ETFs based on the futures market last month.
The US SEC chief Gary Gensler had already indicated that a spot-based Bitcoin ETF would find it difficult to get SEC’s nod. Gensler has also said that the crypto market needs clear investor protection laws to ensure a fair market. Thus the rejection of the VanEck ETF didn’t surprise the likes of Bloomberg chief ETF analyst Balchunas who has predicted that a spot ETF would eventually get SEC’s nod but not until next year.
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
