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DWS Group (DWS), an asset management company managing nearly €900 billion in assets, has partnered with Galaxy Digital Holdings Ltd. teamed up to introduce two of them new Xtrackers Exchange Traded Commodities (ETCs): the Xtrackers Galaxy Physical Bitcoin ETC Securities and the Xtrackers Galaxy Physical Ethereum ETC Securities. These new ETCs are now listed on the German stock exchange, as DWS announced in a recent press release.
An Exchange Traded Commodity (ETC) acts as a debt security similar to an Exchange Traded Note (ETN), but offers additional protection for investors. These protections include collateral, limited recourse and insolvency remote issuers. Unlike ETNs, ETCs can track individual assets or smaller, focused baskets of assets.
According to Manfred Bauer, global head of product at DWS and member of the board of DWS Group, the growing value of Bitcoin and Ethereum makes it impossible for investors and financial institutions to simply ignore them. With this launch, DWS wants to give investors direct access to Bitcoin and Ethereum.
“Since the first Bitcoin transaction in 2009, digital assets have developed from a niche technology innovation to a globally recognized asset class. With a combined market capitalization of more than $1.7 trillion, Bitcoin and Ethereum alone are now too important for investors and asset managers to ignore,” explained Bauer.
The strategic partnership between DWS and Galaxy aims to accelerate the adoption of digital assets in Europe, leveraging their shared potential Expertise, remarked DWS. Through this collaboration, Galaxy will equip DWS with the tools and expertise to provide European investors with institutional access to digital assets.
“We are pleased to partner with Xtrackers to provide investors with institutional access to digital assets.” To Support them with our extensive expertise in digital assets,” commented Steve Kurz, Global Head of Asset Management at Galaxy.
As mentioned in the press release, each ETC is supported by separate offline storage solutions provided by Zodia Custody and Coinbase, security the secure storage of digital assets.
With an annual product fee of just 0.35%, DWS expects these ETCs to be a cost-effective option for investors looking to tap into the digital asset market. The company claims that it new Products offer the ease of trading an ETP with the perceived security of an underlying physical asset.
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