Summary
TLDR: DWS, a large asset manager, has launched new Xtrackers Exchange-Traded Commodities (ETC) in collaboration with Galaxy Digital Holdings Ltd., offering investors in Germany convenient access to bitcoin exposure. The ETCs are physically backed by BTC and listed on Deutsche Börse, with State Street and MSCI also involved in the project. The ETCs will have an annual product fee of 0.35%.
Key Points
1. DWS, a prominent asset manager with over $900 billion in assets under management, has launched new Xtrackers Exchange-Traded Commodities (ETC) in collaboration with Galaxy Digital Holdings Ltd., offering investors convenient access to bitcoin exposure in Germany.
2. The 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. The ETCs are physically backed by BTC, ensuring that investors have direct exposure to bitcoin’s price movements.
3. DWS has strategically partnered with Galaxy to promote Bitcoin adoption in Europe, leveraging Galaxy’s expertise in digital asset products and services. State Street will serve as the Issuing and Paying Agent and Administration Agent for these ETCs, with MSCI providing reference prices for bitcoin. The ETCs utilize cryptocurrency custodians Zodia Custody and Coinbase for secure storage in offline custody accounts and boast an annual product fee of 0.35%.