Digital gold may look harmless on your favorite app — but Zerodha CEO Nithin Kamath warns it’s a “completely unregulated” product where investors can lose money instantly and have zero protection if a platform collapses.

In a pointed LinkedIn post, Kamath amplified a recent caution from SEBI, India’s securities regulator, stressing that digital gold — despite its sleek digital packaging — is not covered by any regulatory framework. “Most people don’t realize that nobody regulates digital gold,” he wrote, adding that if something goes wrong, “there’s not much you can do.” Advertisement

The product’s popularity has soared. According to ET Wealth, UPI transactions in digital gold ballooned from ₹760 crore in January to ₹1,180 crore by August 2025. But Kamath says investors are jumping in w

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