DWS, managing more than $900 billion, launches new Xtrackers Exchange-Traded Commodities (ETC) in partnership with Galaxy Digital Holdings Ltd., providing investors in Germany with a streamlined way to gain exposure to $BTC .
Manfred Bauer, who serves as the Global Head of the Product Division and is a member of the Executive Board at DWS Group, emphasized that Bitcoin has become an asset too important for both investors and asset managers to overlook.
The Xtrackers Galaxy Physical $BTC ETC, now available on the Deutsche Börse, enables investors to engage with the Bitcoin market through the security and clarity offered by exchange-traded products.
These ETCs are physically backed by Bitcoin, providing investors with direct exposure to $BTC price.
DWS has formed a strategic alliance with Galaxy to further Bitcoin's integration in Europe, capitalizing on Galaxy's proficiency in digital asset products and services.
Steve Kurz, Global Head of Asset Management at Galaxy stated:
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.
State Street is appointed as the Issuing and Paying Agent as well as the Administration Agent for these ETCs. MSCI is tasked with providing Bitcoin's reference prices, as per the official statement.
These physically backed ETCs are held in a 1:1 ratio and employ Zodia Custody and Coinbase for the secure, offline storage of assets. The ETCs also feature an annual fee of 0.35%.