Navi Mutual Fund and Aditya Birla Sun Life Mutual Fund, two of the prominent mutual fund houses in India, have recently filed drafts to join blockchain and metaverse financial market. Aditya Birla Sun Life Virtual Digital Assets & Blockchain exchange-traded fund (ETF) and Navi Metaverse ETF Fund of Fund are the two schemes which are waiting for SEBI’s approval for the launchHowever, these two schemes are not the first movers in this field. Previous year, Invesco Mutual Fund was about to launch the Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF). However, Invesco mutual fund had to put the launch on hold to the uncertain rules on investments in cryptocurrency by the Indian government. Mutual fund experts and advisors projects that these new schemes can be a good way of diversifying the investments into newer arenas.

Source: Economic Times June 03, 2022 11:12 UTC