DWS Group, a German asset management company with $900 billion under management, is preparing to launch a cryptocurrency exchange-traded fund (ETF) for retail investors, according to Bloomberg. The decision comes amid a rapid rebound in Bitcoin prices and optimism that U.S. regulators will soon approve cryptocurrency ETFs.

DWS had signed an agreement in April with cryptocurrency fund manager Galaxy Digital Holdings Ltd. to develop a series of ETFs for the European market.