As of now, there is no legislative framework that governs cryptocurrencies in India. In the past decade, India has generally held a cautious position towards use and transactions involving cryptocurrencies.
Cryptocurrencies are suitable for aggressive investors who understand the risk involved with the investment. It's similar to investing in penny stocks, which may give extremely high returns in a short time, or you could lose
The bullish bias of fund managers is reflected well in the low cash levels they have been sitting on. BofA showed that cash levels are as low as 4.1%, implying that most of the investable money available has been invested.