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How to invest in Bitcoin ETFs from India

How to invest in Bitcoin ETFs from India

How to invest in Bitcoin ETFs from India
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By Anshul  Oct 22, 2021 9:39 AM IST (Updated)

The excitement for bitcoin futures-based exchange-traded fund (ETF) is at an all-time high and the surge in bitcoin prices clearly proves that. The cryptocurrency hovered around record levels on Wednesday, a day after the first US bitcoin ETF began trading.

The excitement for bitcoin futures-based exchange-traded fund (ETF) is at an all-time high and the surge in bitcoin prices clearly proves that. The cryptocurrency hovered around record levels on Wednesday, a day after the first US bitcoin ETF began trading.

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Market participants believe that this is likely to drive investment into the digital asset. However, a lot of investors could be facing dilemmas on how to start investing in them.
The answer to this is that unfortunately, as of now it cannot be done via any Indian exchange. So, investors might need US securities account for the same, said CoinDCX Research Team in an exclusive interaction with CNBC-TV18.
“Since the ETFs are traded in the stock market, we can assume that one will only be able to buy through their brokerage account. Just the way they trade in shares in the US stock market," said Raj Shamani, Founder of Shamani Industries.
Elaborating further, Neha Nagar — Founder and CEO of TaxationHelp.in said that investors can buy bitcoin ETFs just like they buy foreign stocks using Robinhood, or other platforms as it is listed on New York Stock Exchange (NYSE).
“One has to open a demat account with foreign brokers or brokers who deal in foreign stocks where they can purchase bitcoin ETF within minutes,” Nagar said.
Calling the launch a big revolution, she further said that this is sure to add new investors who are willing to invest in crypto for exposure of cryptocurrency without worrying about the security or storage of bitcoins.
“It will be just one-click access to a new set of investors. Bitcoin ETFs are the easiest way to enter into cryptocurrency. Also, investors have huge trust in stock exchanges and the Securities and Exchange Commission (SEC),” she told CNBC-TV18.
Seconding Nagar’s view, Shashank Udupa — Co-Founder of Scenes by Avalon said that this is a huge step towards mainstream adoption of cryptocurrency.
“The introduction of Bitcoin ETF will enable a lot of people to start investing through traditional investment channels. For Indians who are looking to invest can look to buy this ETF through brokers soon as they should launch it in near future and see a massive demand," Udupa added.
Meanwhile, the cryptocurrency universe celebrated a landmark moment as the first-ever exchange-traded fund of Bitcoin started trading on the NYSE on Tuesday. The Proshares Bitcoin-linked ETF started trading on the stock exchanges with the ticker name of BITO.
It's important to note that countries like Canada had already launched a Bitcoin ETF in the recent past.
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