DWS is a leading asset manager, with assets of over $900 Billion. launched New Xtrackers Exchange Traded Commodities in partnership with Galaxy Digital Holdings Ltd. offers investors easy access to Bitcoin exposure in Germany.
DWS, the $932 billion asset manager launches physical #Bitcoin ETC is available in Germany🇩🇪 pic.twitter.com/e6RvMLidHY
— Bitcoin Magazine (@BitcoinMagazine) April 4, 2024
“Since the first Bitcoin transaction in 2009, digital assets have developed from a niche technology innovation to a globally recognized asset class,” Manfred Bauer is the Global Head of DWS Product Division at DWS Group and a member of its Executive Board. “With a combined market capitalization of more than USD 1.7 trillion, bitcoin and ethereum alone are now too significant for investors and asset managers to ignore.”
You can also find out more about the following: Xtrackers Galaxy Physical Bitcoin ETC is now listed on Deutsche Börse, allowing investors to participate directly in the Bitcoin market with the security and transparency of exchange-traded products. ETCs have BTC as physical backing, so investors can directly track bitcoin price changes.
DWS announced that it had strategically partnered up with Galaxy in order to promote Bitcoin adoption across Europe. Galaxy has expertise in the digital asset market and offers a wide range of products and services. “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,” Steve Kurz, Global Director of Asset Management for Galaxy.
State Street, the issuing, paying and administration agent, will be responsible for the ETCs. MSCI, the bitcoin reference price provider, was announced in the official statement. ETCs have a 1:1 physical backing and are stored in secure offline custody accounts by Zodia Custody or Coinbase. ETCs are also subject to an annual product charge of 0.35%.
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Source: bitcoinmagazine.com