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India INX will be the trading platform and Cosmea Financial Holdings will be the distributor, while Kling Trading will be the technology partner Listen to this article Torus Kling Blockchain IFSC, a joint venture between Cosmea Financial Holdings and Kling Trading India, has signed a memorandum of understanding (MoU) with India INX to launch the country’s first bitcoin and ethereum futures exchange-traded funds (ETFs) -- the first outside of the US.

As per the MoU, India INX will be the trading platform and Cosmea Financial Holdings will do the distribution, while Kling Trading will be the technology partner.

“Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency exchanges," said Krishna Mohan Meenavalli, CEO, Torus Kling Blockchain IFSC.

Torus Kling Blockchain is targeting $1 billion in assets under management 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," said V.