This innovative financial product is designed to offer investors a convenient gateway to Bitcoin exposure.
This marks a significant milestone in the integration of cryptocurrency within mainstream investment portfolios in Germany. Let’s discover more about this Bitcoin ETC.
DWS and Galaxy Digital Roll Out Physical BTC ETC in Germany
The newly launched Xtrackers Galaxy Physical BTC ETC is now available on Deutsche Börse. This will enable investors to gain direct access to the Bitcoin market through a secure and transparent exchange-traded framework. This ETC’s unique feature is its Bitcoin backing, offering direct exposure to Bitcoin’s price movements. This ensures that the ETC’s value is closely tied to the actual performance of Bitcoin in the market.
JUST IN: $932 Billion asset manager DWS launches physical #Bitcoin ETC in Germany 🇩🇪 pic.twitter.com/e6RvMLidHY
— Bitcoin Magazine (@BitcoinMagazine) April 4, 2024
Also, State Street is the Issuing, Paying, and Administration Agent for these ETCs. Additionally, the official announcement states that MSCI provides reference prices for Bitcoin. So, this collaboration among reputable financial institutions underscores the reliability and robustness of the product’s infrastructure.
More About BTC ETC
One of the ETCs’ most compelling features is their physical backing, with Bitcoin backing each ETC 1:1. This arrangement means that for every ETC, an equivalent amount of Bitcoin is securely stored on behalf of investors. So, the custody of these Bitcoin assets is entrusted to Zodia Custody and Coinbase, two of the industry’s most trusted cryptocurrency custodians. Secure cold storage stores these assets, making them immune to online hacking threats.
Finally, investors interested in the Xtrackers Galaxy Physical BTC ETC will also find its cost structure appealing. The ETCs offer a low annual fee of 0.35%, making them an affordable Bitcoin investment option.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
