DWS has launched two new Xtrackers ETCs in partnership with Galaxy Digital Holdings Ltd.
Takeaway Points
- DWS announced that it has launched two new Xtrackers ETCs in partnership with Galaxy Digital Holdings Ltd.
- The new ETCs will give investors the opportunity to participate in the performance of the two biggest digital assets by market capitalization and to integrate them easily and cost-effectively into their portfolios.
- The annual product fee is a cost-efficient 0.35 per cent and is backed by Zodia Custody and Coinbase.
DWS announced on Thursday that it has launched two new Xtrackers ETCs in partnership with Galaxy Digital Holdings Ltd. (“Galaxy”), giving investors access to bitcoin and ethereum. According to the report, the new ETCs will give investors the opportunity to participate in the performance of the two biggest digital assets by market capitalization and to integrate them easily and cost-effectively into their portfolios. The Xtrackers Galaxy Physical Bitcoin ETC securities and the Xtrackers Galaxy Physical Ethereum ETC securities were listed on Deutsche Börse today.
Manfred Bauer, Global Head of DWS’ Product Division and Member of the Executive Board at DWS Group, said that since Bitcoin was introduced in 2009, digital assets have developed from a niche technology innovation to a globally recognized asset class, and Bitcoin and ethereum have become so important that investors and asset managers cannot ignore them.
“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 USD 1.7 trillion [1], bitcoin and ethereum alone are now too significant for investors and asset managers to ignore,” says Manfred.
Steve Kurz, Global Head of Asset Management at Galaxy, said they are happy to work with Xtrackers to give investors institutional-grade access to digital assets.
“DWS has entered into a strategic partnership with Galaxy to advance digital asset adoption in Europe through the partners’ combined expertise. Galaxy offers a broad range of digital asset 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,” says Steve.
According to the report, the annual product fee is a cost-efficient 0.35 per cent and is backed by Zodia Custody and Coinbase, which store the cryptocurrencies in segregated offline (“cold”) storage [2]”custody accounts. State Street will act as Issuing and Paying Agent and Administration Agent, while MSCI will provide the Bitcoin and Ethereum reference prices.
About DWS Group
DWS Group (DWS) is an asset management firm, that aims to be one of the world’s leading asset managers. With more than 60 years of experience, it has EUR 896 billion of assets under management as of 31 Dec 2023. Building on that, it has a reputation for excellence in Germany, Europe, the Americas, and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability, and innovation across a full spectrum of investment disciplines. The firm said it has 4,500 employees in offices all over the world.
About Galaxy
Galaxy is a digital asset and blockchain leader that provides access to the growing digital economy. the offer services to different clients, like institutions, startups, and qualified individuals. The offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia.
