- The SEBI approved the Invesco Coinshares Global Blockchain UCITS ETF.
- The ETF invests in Coinbase Global Inc and other companies.
- Investors will be able to make investments in international blockchain companies.
The Securities and Exchange Board of India (SEBI) has approved the Invesco CoinShares Global Blockchain UCITS ETF, making it the first of its kind in India.
This is the first time that Indian investors will be able to invest in international companies involved in the blockchain ecosystem.
The fund’s holdings include Canadian bitcoin miner Bitfarms Ltd, US crypto exchange Coinbase Global Inc, and MicroStrategy Inc, the world’s largest corporate crypto holder.
The new fund offer for Invesco CoinShares Global Blockchain ETF FoF will begin on November 24 and end on December 8.
Invesco MF stated in the product document, “Although blockchain technology is still in its early stages, its potential to transform the global economy is enormous. Blockchain, like the internet, presents an opportunity for investors who can capitalise on this untapped potential.”
Invesco recently withdrew its Bitcoin ETF application from the SEC. The firm is now preparing to launch spot trading in collaboration with cryptocurrency broker Galaxy Digital.
The Indian government’s stance on crypto regulation is currently unknown, but given the recent surge in popularity of the crypto market and the growing number of crypto unicorns in India, recent reports suggest that good laws are on the way.