🚀 $900 BILLION DWS LAUNCHES PHYSICAL BITCOIN ETC IN GERMANY 🚀
Germany joins the US and Great Britain in launching a new physically backed Bitcoin product this year, as DWS, a leading asset manager with over $900 billion in assets under management, introduces Xtrackers Exchange-Traded Commodities (ETC) in collaboration with Galaxy Digital Holdings Ltd.
"Digital assets have evolved from a niche technology innovation to a globally recognized asset class," said Manfred Bauer, Global Head of DWS’ Product Division. With Bitcoin and Ethereum's combined market capitalization exceeding $1.7 trillion, they are now too significant for investors to ignore.
The Xtrackers Galaxy Physical Bitcoin ETC is now listed on Deutsche Börse, offering investors direct participation in the Bitcoin market with the security and transparency of exchange-traded products. Backed by BTC, investors gain direct exposure to Bitcoin's price movements.
DWS strategically partnered with Galaxy to promote Bitcoin adoption in Europe, leveraging Galaxy's expertise in digital asset products and services. "We are delighted to offer investors institutional-grade access to digital assets," said Steve Kurz, Global Head of Asset Management at Galaxy.
State Street serves as the Issuing and Paying Agent and Administration Agent for these ETCs, with MSCI providing reference prices for Bitcoin. The ETCs are 1:1 physically backed and utilize cryptocurrency custodians Zodia Custody and Coinbase for secure storage in offline custody accounts. The ETCs boast an annual product fee of 0.35%
