DWS Group Launches Bitcoin & Ethereum ETCs in Hong Kong & London
German asset management giant DWS Group has partnered with Galaxy Digital Holdings to enter the crypto market. The collaboration has resulted in the launch of two physically-backed Exchange-Traded Commodities (ETCs) tracking Bitcoin and Ethereum, listed on the German Stock Exchange. These ETCs, offered in Hong Kong and London, provide investors with a simple way to gain exposure to these leading cryptocurrencies.
The Xtrackers Galaxy Physical Bitcoin ETC and the Xtrackers Galaxy Physical Ethereum ETC aim to replicate the performance of their respective cryptocurrencies on a 1:1 basis. DWS Group, a major player in the German asset management scene, has launched these securities to cater to growing investor demand for crypto exposure.
While these ETCs are not yet available in Europe due to regulatory considerations and evolving market readiness, they are listed in Hong Kong and London. The UCITS directive in Europe prohibits ETFs from tracking a single underlying asset, leading to the use of ETCs or ETNs instead. DWS Group has chosen to work with Zodia and Coinbase for custody services.
Bitcoin and Ethereum, with a combined market capitalization of over 1.7 trillion US dollars, have become too significant for investors and asset managers to overlook. The ETCs are traded under the brand name Xtrackers and charge an annual fee of 0.35 percent.
Through this strategic partnership, DWS Group has opened up new avenues for investors to gain exposure to Bitcoin and Ethereum via simple, tradable securities. As regulations evolve and market readiness grows, these crypto ETCs could potentially expand their reach to other regions, including Europe.
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