MEXCXtrackers Galaxy Physical Bitcoin ETC Debuts in Germany
Highlights
- DWS and Galaxy Digital Holdings Ltd. have partnered to launch the Xtrackers Galaxy Physical Bitcoin ETC in Germany.
- This new ETC offers German investors direct access to the Bitcoin market with enhanced security and transparency.
- Manfred Bauer highlighted the evolution of digital assets, noting Bitcoin and Ethereum's significant market capitalization.
DWS, the asset manager, introduced a new Xtrackers Exchange-Traded Commodities (ETC) following a partnership with Galaxy Digital Holdings Ltd. This joint effort provides German investors with a simple way to obtain Bitcoin exposure. Deutsche Börse listed the Xtrackers Galaxy Physical Bitcoin ETC. It gives the investors direct access to the Bitcoin market while ensuring the security and transparency of exchange-traded products.
Manfred Bauer, the Global Head of Product Division of DWS, stressed the development of digital assets as a key asset class. With its creation in 2009, Bitcoin has risen from a mere technological innovation to a worldwide industry. By now, Bitcoin and Ethereum alone have a market cap of over USD 1.7 trillion. Bauer points out that these changes make digital assets necessary for investors and asset managers alike.
DWS and Galaxy Digital Partner for Bitcoin ETC
DWS has smartly aligned with Galaxy Digital Holdings to promote the adoption of Bitcoin in Europe. This collaboration builds on Galaxy’s strong digital asset experience, providing investors with institutional-grade digital asset access. Steve Kurz, Galaxy Global Head of Asset Management, said that he was excited to help investors with their strong digital asset expertise.
The Issuing and Paying Agent and Administration Agent for the Bitcoin ETCs will be State Street. MSCI has been charged with giving Bitcoin reference prices. The Bitcoin ETCs offer a 1:1 direct physical backing of BTC, guaranteeing direct exposure to the price dynamics of Bitcoin. They use Zodia Custody and Coinbase to store cryptocurrency in offline custody accounts. The product also charges an annual fee of 0.35%, thus making it an attractive option for investors looking for Bitcoin exposure.
Deutsche Boerse Launches Digital Exchange for Crypto
The release of the Xtrackers Galaxy Physical Bitcoin ETC also coincides with increasing demand for cryptocurrency in Germany. Deutsche Börse has recently launched a platform for trading crypto assets such as Bitcoin and Ethereum. This platform, called Deutsche Boerse Digital Exchange (DBDX), is focused on institutional clients, being fully regulated and adding to Germany’s status as a leading crypto market in Europe.
The German quest for Bitcoin and other cryptocurrencies is reflected by the large inflows of cash into crypto funds. Xetra, the country’s electronic securities trading platform, currently provides crypto ETP and ETN from companies like 21Shares and WisdomTree. They are centrally cleared by Eurex Clearing AG, further underpinning the commitment of Deutsche Boerse Group to offer a safe and regulated environment for crypto trading.
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