Mudrex to Provide Access to US Spot Bitcoin ETFs for Indian Crypto Investors — TradingView News

Edul Patel, the CEO and Co-founder of the crypto trading platform Mudrex, has announced that Indian investors, both institutional and individual, will soon have the opportunity to engage with US spot-bitcoin exchange-traded funds (ETFs). Mudrex is preparing to introduce this service to its users.

As reported by Coindesk, the Indian cryptocurrency investment platform is looking to integrate four spot ETFs from major asset management firms—specifically, those from Franklin Templeton, BlackRock, Fidelity, and Vanguard.

Patel remarked on the significance of the offering: “Institutions will find this addition especially beneficial, even though retail investors previously had means to access such ETFs. We take pride in being the pioneer among Indian crypto platforms to provide such a service.” While retail investors have been using spot-bitcoin ETFs through American investment services, Mudrex aims to extend these capabilities to institutional clients as well.

Mudrex, a Y-Combinator-enabled venture rooted in California with an Indian subsidiary, plans to orchestrate transactions through broker partners in the United States, while the Indian arm handles the provision of spot-bitcoin ETF services for its customers.

Patel elucidated the mechanism, stating that “As spot bitcoin ETFs are considered securities, Indians can purchase them under the Liberalised Remittance Scheme (LRS), enabling specifically institutions—to diversify into bitcoin through these ETFs, further enriching their investment portfolios.”

He also addressed the complexity around LRS, saying, “The concerns that users usually encounter with the LRS are mitigated in the US due to our solid banking connections. We facilitate users to carry out transactions smoothly. This underscores the importance of the services we are introducing.” India sets a general LRS ceiling of $250,000 yearly. On Mudrex’s platform, Indian clients can invest in these spot bitcoin ETFs starting at $5,000, up to the maximum LRS limit.