Mudrex launches US Bitcoin Spot ETFs for investors in India

Commenting on the development, Edul Patel, CEO & Co-founder of Mudrex, said, “Seeing the increasing demand for Bitcoin spot ETFs and user requests on our platform in the past few months, we have decided to launch it for Indian investors. We aim to empower investors with the flexibility to invest across a diverse range of crypto products, offering a seamless and accessible avenue to navigate the dynamic digital asset landscape”.

In the first phase, the platform is set to list four spot ETFs – BlackRock, Fidelity, Franklin Templeton and Vanguard.

"Investors can choose between systematic investment plans (SIP) or lump-sum investments, aligning with their financial goals. Investors can invest in spot Bitcoin ETFs through Mudrex's platform by completing their KYC process. This is a significant milestone for Mudrex to deliver innovative investment solutions within the rapidly evolving digital asset landscape," Mudrex said in a release.

Mudrex operates in complete compliance with local regulatory bodies in India and the European Union. The platform is a registered entity with FIU (Financial Intelligence Unit) in India and holds a VASP (Virtual Asset Service Provider) licence in the EU. Mudrex also obtained the OAM (Organismo Agenti e Mediatori) registration in Italy, it said.

Headquartered in Bengaluru and San Francisco, Mudrex is backed by Y- Y-Combinator, Nexus Ventures, Arkham Ventures, and Tribe Capital. Founded by Edul Patel, Alankar Saxena, Rohit Goyal, Prince Arora the Y-Combinator-backed enterprise has established a robust investing platform that can be used by both newcomers and seasoned investors. The US-headquartered and Bengaluru-based fintech startup aims to be the largest asset management platform for crypto.

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Source: Forex-Markets-Economic Times