India ETF futures launch signifies end of hostility

The Indian finance market is with a highly rewarding investment vehicle. Reports from mid-January speak of the launch of ETF futures on Bitcoin and Ethereum. Blockchain pioneer, entrepreneur, and PayBitoPro chief, Raj Chowdhury stares at the positives as India looks forward to the launch. Therefore, this happens to be the first time that a financial venture of this nature. Thereafter, it introduce outside of the US. This is also an instance of a first in Asia.

Since the news made it to the headlines, much buzz was generated from it on the internet. Several discussion platforms are regularly flooded with quizzes.

CEO Remarks 

“The hype and the excitement surrounding futures ETFs indicate how welcoming the crowd is towards the crypto elements,” states Chowdhury.

“The ETF futures should allow investors to experiment in the crypto sphere without staking their capital or assets.” 

The young Indian crowd is educated, inquisitive, and open to experimentation on crypto-assets and their ETF futures. They are aware of the risks and benefits associated win an investment vehicle of this form. 

“Indian investors perceive crypto as a means of financial liberation. Although they wouldn’t place their fortune in it, they wouldn’t want to stay out of it either. And this is the right approach.”

The Government and Regulation

In the recent financial budget presented in the Parliament, the Indian Finance Minister declared the imposition of a 30% tax on the crypto asset earnings. Although it appears harsh on the cryptocurrency startups that have since peopled the country’s important cities and investors, it is better than a complete ban which happened in 2018. 

The Indian Government adopts a stance of conscious avoidance of either legalizing or banning crypto. Even so, Chowdhury is confident that the phase of ‘absolute mistrust’ is making way for the quest for innovation. The imposition of heavy taxes on crypto-earning indicates that the government is all for regulation rather than an outright ban. “The advent of futures on ETFs for the first time outside of the US obviously means that the stark hostility on the part of the government is a thing of the past,” added Chowdhury. “It only goes forward from here.”

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PayBitoPro

PayBitoPro, led by Chowdhury is an ace provider of white label cryptocurrency solutions. The cryptocurrency exchange solution developed by PayBitoPro finds use with institutional investors worldwide. Earlier this year the global crypto exchange announced the listing of 23 new coins at the beginning of the year 2022. PayBitoPro has announced its intent of hosting IEO for at least three Defi Products within the first quarter of the financial year 2022. 

Chowdhury has previously been vocal on the need for a decentralized marketplace for NFTs.

Also Read: PayBitoPro to Offer its Technical Services in Creating a US Gaming Exchange

Finally

Overall, Indian markets are welcoming to crypto assets and decentralized products. The favorable response from Indian entrepreneurs and startup aspirants is encouraging for the global crypto industry. It is safe to conclude that things are definitely looking up for crypto in India and more development is to follow.

Source: https://finance.yahoo.com/news/launch-etf-futures-mark-end-080000680.html