Wu said that Deutsche Digital Assets (DDA) listed the world's first Bitcoin Macro Exchange Traded Product (ETP) on the German XETRA exchange on July 3. The ETP is called DDA Bitcoin Macro ETP, with the code BMAC, and aims to dynamically adjust the investment ratio of Bitcoin according to macroeconomic factors. This ETP is fully backed by physical Bitcoins held by Coinbase Custody International Ltd., with a total cost ratio of 2.00%.