Trading volumes at local crypto exchanges rose in the build-up to the news of the SEC's approval towards trading of Bitcoin ETFs in the US. It has set the ground for more opportunities for investors in India to buy the ETF from international brokers
For crypto enthusiasts, entrepreneurs and investors alike, the New Year has opened with a bang after the US Securities and Exchange Commission (SEC), on January 10, approved the trading and listing of Bitcoin exchange-traded funds (ETFs) from 11 large and well-recognised asset managers.
2023 was largely a year that the digital assets ecosystem could forget, barring that Bitcoin spot jumped 157 percent in 2023, fuelled on expectations of the regulatory approval for ETFs. For the rest of the year, fortunes waned for large crypto exchange Coinbase, NFT trading volumes fell and crypto exchanges in India adopted different business models and diversified products to stay afloat.