DWS Group, the world's leading fund management company with total assets of up to 900 billion USD, has just officially launched two Exchange-Traded Commodities (ETC) products in cooperation with Galaxy Digital Holdings, allowing investors to Direct access to Bitcoin and Ethereum on the German stock exchange.
ETC (Exchange-Traded Commodity) operates similarly to ETN (Exchange-Traded Note) but with additional layers of protection for investors, including collateral, etc. Unlike ETNs, which typically track a diverse basket of assets, ETCs can track a single asset or a small, concentrated group of assets.
Two new ETC products, Xtrackers Galaxy Physical Bitcoin ETC (XBTI) and Xtrackers Galaxy Physical Ethereum ETC (XETH), were officially listed on Deutsche Börse on March 25. Both closely monitor the price fluctuations of Bitcoin and Ethereum, backed at a 1:1 ratio by Zodia Custody and Coinbase's custodial services, ensuring the safety of digital assets stored in wallets. refrigeration. The product's annual management fee is 0.35%.
The partnership between DWS and Digital Galaxy leverages the strengths of both parties, promising to drive digital asset adoption in Europe. “We are excited to partner with Xtrackers to provide investors with institutional-grade access to digital assets,” said Steve Kurz, Head of Global Asset Management at Galaxy. and support them with our extensive expertise.”
“Since the first Bitcoin transaction in 2009, the digital asset has grown from a niche technology innovation to a globally recognized asset class,” said Manfred Bauer, Global Head of Product and Member of the Board of Directors of DWS Group commented.
DWS's participation is expected to contribute to promoting liquidity and transparency in the cryptocurrency market, attracting more investors to participate and opening new doors for the development of the technical asset industry. number in Europe.
