Financial Markets In A Flux As U.S. SEC Approves First Bitcoin ETF, What About India?

In what could be a watershed moment for global financial markets and cryptocurrencies, the U.S. securities regulator SEC has approved Bitcoin-based exchange-traded funds (ETF). The announcement will make 11 spot Bitcoin ETFs available to investors. These include offerings from financial giants like Blackrock, Fidelity, Grayscale, Ark Investments, and Invesco. Trading in most products begins Jan 11. The permission for ETFs is seen as a game-changer in the financial industry. ETFs, which bundle assets like a mutual fund, will allow investments in Bitcoin without people actually holding the cryptocurrency. Will the SEC decision have an impact on the Indian stance on cryptocurrencies? Here’s a report by BTTV’s Karishma Asoodani.