When we buy any mutual fund (e.g. Axis Bluechip), it gets stored in Demat account?

When we buy any mutual fund (e.g. Axis Bluechip), it gets stored in Demat account? Is there any option to not use demat account when we buy any non ETF funds?

With Coin, all MF units will be stored in DEMAT form in your DEMAT account.
If you don’t want to have it in DEMAT form then probably you have to look at non-DEMAT folio based app’s like groww, kuvera

Yes, all mutual funds that you purchase on Coin are credited to your Demat account.

This will not be possible if you’re investing through Coin. Btw, may I know the reason for not using the Demat account for MF investments? In Demat account, all your investments (stocks, bonds, mutual funds) are in one place and it’s easier to keep track.