Torus Kling Blockchain to launch India’s first crypto backed futures ETF at Gift City


Torus Kling Blockchain IFSC, a 50:50 joint venture between Sam Ghosh promoted Cosmea Financial Holdings (CFH) and Kling Trading India, signed an MOU with India INX to launch India’s first Bitcoin and Ethereum Futures ETF and Metaverse US listed Large-cap Discount Certificates.

Crypto-backed futures ETF

This Bitcoin & Ethereum Futures ETF will be the first crypto backed futures ETF outside of US and the first Asian Discount certificates tracking Metaverse Large Cap stocks in US and Europe markets.
Torus Kling Blockchain will be the liquidity provider to India INX by providing round the clock deep liquidity with smart order routing. The product will be distributed through Torus global distribution team and partners.
Torus Kling Blockchain is targeting $ 1 billion Assets Under Management (AUM) in the first two years from customers participating in blockchain backed products through ETFs and Discount certificates.
“India INX at GIFT IFSC is looking at exploring launch of Digital Asset based products and has already made an application to IFSCA under Regulatory Sandbox. This is a part of our product innovation initiative to benchmark offerings with other international finance centers. We will be launching products in these new age assets incompliance with the prevailing laws after receiving all required post regulatory approvals” said V. Balasubramaniam, Managing Director & CEO, India INX.
Krishna Mohan Meenavalli, CEO, Torus Kling Blockchain IFSC, said that new asset class is tip of the iceberg and that Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of Crypto Currency Exchanges.
Torus Kling Blockchain IFSC plans to launch the ETF in Gift City by the end of this fiscal, subject to IFSCA and other regulatory approvals, Meenavalli told BusinessLine.

Trading volume

As per reports, Global Derivatives Trading Volume for the cryptocurrency market stood at $ 3.2 trillion, while total Spot volumes were half a billion lower at $ 2.7 trillion. In India, the ETF AUM has almost doubled from ₹1.5 lakh crore to Rs ₹2.9 lakh crore during FY21. Also, Exchange Traded Products (ETPs) have acquired more than $ 1 trillion representing 15 per cent of all fund assets globally.
India INX is India’s first international exchange at the International Financial services (IFSC) located at GIFT City. It has a 91 per cent market share amongst IFSC exchanges 
Kling Trading India Pvt Limited is a Hyderabad based Blockchain startup Web 3.0 “Creator Economy” with Global offices in India, Gift City, Hong Kong and Kazakhstan. Kling provides Liquidity ECN/Crypto Mining/Non-Custodial Multi Blockchain Wallet/DeFi/GameFi and Metaverse solutions.

Published on


January 13, 2022



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