đđąđ„The curious case of Indiaâs first crypto mutual fund.
A startup based out of Bengaluru called Bitsave says it has launched Indiaâs first âcrypto mutual fundâ, with about $200,000 in assets under management as of 1 May. The startupâs star offering is its âBitSave Crypto Indexâ product, a passive fund that replicates the weights in the Bloomberg Galaxy Crypto Index, or BGCI Index.
Unlike mutual funds, this particular fund is neither regulated by the Securities and Exchange Board of India, nor governed by the many rules that safeguard ordinary investors in mutual funds.