Of course, the mutual fund industry also wants to join the party. Two fund houses - Navi Mutual Fund and Aditya Birla Sun Life Mutual Fund- have filed drafts for such funds. Navi Metaverse ETF Fund of Fund and Aditya Birla Sun Life Blockchain & Virtual Digital Assets ETFs Fund of Fund are awaiting Sebi's approval for launch.However, these two schemes are not the pioneers in this field. Last year, Invesco Mutual Fund almost launched the Invesco India - Invesco CoinShares Global Blockchain ETF Fund of Fund- on November 24. According to the draft statement, ABSL Blockchain & Virtual Digital Assets ETFs Fund of Fund will be an open ended fund of funds scheme investing in the units of ETFs focused on the global blockchain theme.

Source: Economic Times June 01, 2022 20:10 UTC