Rich Indians Invest in US Spot Bitcoin ETFs
Date: 2024-04-11 Author: Henry Casey Categories: IN WORLD
Bitcoin spot exchange-traded funds (ETFs) approved in the US have attracted the attention of wealthy Indians using their remittance quotas for trading.
High net worth Indians are actively using the Liberalized Remittance Scheme, which allows transfers of up to $250,000 per year, to invest in spot Bitcoin ETFs and diversify their portfolios.
Growing Demand for Bitcoin ETFs
Platforms catering to investors in India are seeing a surge in demand for spot Bitcoin ETFs, dominated by buy orders, indicating growing interest in cryptocurrencies among investors.
Wealthy investors are being attracted by the tax advantages of the Liberalized Remittance Scheme, while India's tax policy on cryptocurrencies is undergoing changes, creating opportunities for more profitable investments.
