Flipkart Co-Founder-Backed Navi Mutual Fund Files for Blockchain Fund in India

Posted on by American Coins & Gold

Flipkart Co-Founder-Backed Navi Mutual Fund Files for Blockchain Fund in India
Navi Mutual Fund, which is backed by Flipkart co-founder Sachin Bansal, summited a draft filing with Indian market regulator Securities and Exchange Board of India (SEBI) to list a blockchain fund.According to the filing, Navi Blockchain Index Fund of Fund will invest in other funds that are based on the Indxx Blockchain Index rather than investing directly in crypto or blockchain-based companies.Indxx Blockchain Index tracks the performance of companies in emerging or developed economies that use or can benefit from blockchain technology.The filing comes after Invesco deferred the launch of its blockchain ETF in India last month, citing regulatory uncertaintyThe…