Bitcoin

Bitcoin ETF

<ul><li>Indian investors bypass domestic crypto regulations by using RBI&#39;s LRS to access US Bitcoin ETFs despite warnings.</li><li>High taxation on cryptocurrencies in India prompts affluent individuals to seek tax-efficient offshore investment options.</li><li>Despite regulatory caution, strong local demand for Bitcoin ETFs persists, driven by wealthy investors and family offices.</li></ul>As per <a href="https://www.bloomberg.com/news/newsletters/2024-04-09/wealthy-indians-trade-bitcoin-etfs-using-local-remittance-quotas" rel="noopener noreferrer nofollow">Bloomberg</a>, wealthy Indians are leveraging the Reserve Bank of India&#39;s Liberalized Remittance Scheme (LRS) to trade US spot Bitcoin ETFs, despite cautionary remarks from the central bank. Reports indicate that 70% of investors participating in these ETFs are high-net individuals.The <a href="https://www.reuters.com/technology/us-etf-launches-set-early-record-2024-helped-by-spot-bitcoin-funds-2024-01-18/" rel="noopener noreferrer nofollow">launch</a> of US <a href="https://cryptotale.org/bitcoin-etf-investment-is-investing-in-bitcoin-etfs-a-right-choice/" rel="noopener noreferrer nofollow">spot Bitcoin ETF</a>s in January has sparked significant interest among institutional players worldwide, with total inflows surpassing $12.3 billion. Surprisingly, a considerable portion of this investment is coming from affluent Indians, utilizing the LRS to remit funds overseas for investing in Bitcoin ETFs.Even though the RBI has repeatedly warned Indians against partaking in cryptocurrency investments, the wealthy investors are eager to gain exposure to the real bitcoin exchange traded funds through the LRS. This program allows anyone to remit the amount that does not exceed <a href="https://cleartax.in/s/what-is-liberalised-remittance-scheme" rel="noopener noreferrer nofollow">$250,000</a> for foreign trade in the financial year.<a href="https://cryptotale.org/wealthy-indians-opt-for-us-bitcoin-etfs-despite-rbis-lrs-warning/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Wealthy Indians Opt for US Bitcoin ETFs Despite RBI's LRS Warning

CryptoTale

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