India's first crypto ETF to be launched by ex RCap CEO's blockchain firm

Aims $1 billion in assets under management by two years; will track large cap metaverse stocks too

Torus Kling Blockchain IFSC, a company backed by former Reliance Capital CEO Sam Ghosh, said on Thursday that it will launch India’s first crypto exchange-traded fund (ETF) by the end of the current financial year. It aims to clock $1 billion of assets under management (AUM) within two years and will also track large-cap metaverse stocks in US and Europe markets.

Torus Kling Blockchain IFSC is a 50:50 joint venture between Sam Ghosh-promoted Cosmea Financial Holdings (CFH) and Kling Trading India. This bitcoin and ethereum Futures ETF will be the first crypto-backed futures ETF outside of the US.

The ETF