DWS Group Debuts Bitcoin And Ethereum ETCs In Germany
Latest News News

DWS Group Debuts Bitcoin And Ethereum ETCs In Germany

DWS Group (DWS), an asset management giant managing almost €900 billion in assets, is introducing Bitcoin and Ethereum ETCs in Germany.

DWS Group partnered with Galaxy Digital Holdings Ltd. to launch the two new Xtrackers ETCs: the Xtrackers Galaxy Physical Bitcoin ETC securities and the Xtrackers Galaxy Physical Ethereum ETC securities. 

These new ETCs were listed on Deutsche Börse today, as DWS shared in a recent press release.

An exchange-traded commodity (ETC) functions as a debt security similar to an exchange-traded note (ETN) but with added protections for investors. 

These protections include collateral, limited recourse, and bankruptcy remote issuer. Unlike ETNs, ETCs can track single assets or smaller, focused baskets of assets.

See Also: Coinbase To List BRC-20 Token ORDI And Worldcoin Perpetual Futures

According to Manfred Bauer, Global Head of DWS’ Product Division and Member of the Executive Board at DWS Group, the growing value of Bitcoin and Ethereum is making it impossible for investors and financial institutions to simply ignore them. 

With this launch, DWS seeks to provide investors with direct access to Bitcoin and Ethereum.

“Since the first Bitcoin transaction in 2009, digital assets have developed from a niche technology innovation to a globally recognized asset class. With a combined market capitalization of more than USD 1.7 trillion, Bitcoin and Ethereum alone are now too significant for investors and asset managers to ignore,” stated Bauer.

The strategic partnership between DWS and Galaxy aims to accelerate digital asset adoption in Europe, leveraging their collective expertise, noted DWS. 

Through this collaboration, Galaxy will equip DWS with the tools and expertise to offer institutional-grade access to digital assets for European investors.

“We are delighted to be working with Xtrackers to offer investors institutional-grade access to digital assets and to support them with our deep digital asset expertise,” commented Steve Kurz, Global Head of Asset Management at Galaxy.

As noted in the press release, each ETC is supported by segregated offline storage solutions provided by Zodia Custody and Coinbase, ensuring the safekeeping of digital assets.

With an annual product fee of just 0.35%, DWS expects that these ETCs will be a cost-effective option for investors looking to tap into the digital asset market. 

The firm claims that its new products will offer the ease of trading an ETP with the perceived safety of having an underlying physical asset.

Disclaimer: The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.