According to BlockBeats, DWS, an asset management company, is offering exchange-traded commodities (ETC) with exposure to Bitcoin (BTC) and Ethereum (ETH) in Germany. These ETC products were developed in collaboration with digital asset financial services company Galaxy Digital. As per DWS's statement, these ETC products were listed on the Deutsche Börse on Thursday.
The products are named Xtrackers Galaxy Physical Bitcoin ETC and Xtrackers Galaxy Physical Ethereum ETC. They track the performance of the two largest cryptocurrencies by market capitalization and charge a fee of 0.35%. The collaboration with Galaxy Digital allows DWS to tap into the growing interest in digital assets and provide its clients with more diverse investment options.
This move by DWS is part of a broader trend of traditional financial institutions embracing digital assets. The launch of these ETC products in Germany signifies the increasing acceptance of cryptocurrencies in the mainstream financial market. It also provides investors with a regulated and transparent way to gain exposure to Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization.