Zerodha LIQUIDCASE is India’s first liquid ETF with a growth NAV, and we launched it in January 2024. In just under two years, it’s incredible that the AUM has reached almost ₹6,000 crores.

All of this growth is organic, from traders and investors discovering the ETF and investing in it. We haven’t really spoken about it much, and you can’t pay commissions on an ETF anyway.

The innovation here was simple: no dividends, because they were tax-inefficient and a pain to redeem and track. I can’t figure out why other AMCs didn’t do this before us. Kudos to Vishal Jain and the Zerodha Fund House team for figuring this out.

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