Breaking Boundaries: Mudrex Brings U.S. Bitcoin ETFs to Indian Investors

Mudrex, an Indian cryptocurrency investment platform, has announced its plans to offer U.S. spot Bitcoin exchange-traded funds (ETFs) to both institutional and retail investors in India. This move marks a significant development in the Indian crypto market, with Mudrex becoming the first platform in the country to provide this service. Backed by Y-Combinator and headquartered in California, Mudrex has a subsidiary registered with the Intelligence Unit of India and holds licenses in Lithuania and Italy. The platform will list four spot ETFs initially: BlackRock, Fidelity, Franklin Templeton, and Vanguard. Mudrex will facilitate transactions through broker partners in the U.S., allowing Indian investors to access spot Bitcoin ETFs seamlessly. Despite regulatory challenges in India, Mudrex aims to leverage the Liberalised Remittance Scheme (LRS) to enable users to diversify their portfolios with a minimum investment of $5,000 and a maximum of $250,000. With strong banking relationships and increasing institutional interest, Mudrex anticipates significant participation and volumes in this new offering.