Deutsche Digital Assets Expands Crypto ETP Offering with Launch of First Multi-Asset Crypto ETP
In Brief
German crypto and digital asset manager Deutsche Digital Assets (DDA) has launched its first multi-asset crypto ETP.
The ETP enables clients to gain exposure to the 10 largest crypto assets by market capitalization.
DDA Crypto Select 10 ETP will be available to European investors through Deutsche Börse Xetra
German crypto and digital asset manager Deutsche Digital Assets (DDA) has expanded its crypto ETP offering with the launch of the DDA Crypto Select 10 ETP, the firm’s first multi-asset crypto ETP.
In the coming weeks, the ETP will be listed on Deutsche Börse Xetra, enabling investors to gain exposure to the top 10 crypto assets by market capitalization. According to DDA, the DDA Crypto Select 10 ETP is 100% physically backed by a basket of cryptocurrencies composing the MarketVector™ Digital Assets Max 10 VWAP Close Index (“MVDAMV”), a modified market cap-weighted index that tracks the performance of the largest and most liquid digital assets launched on May 15.
The ETP is held in an institutional-grade custody solution with Aplo SAS, a full-scale, on-shore, and EU-licensed Prime Broker for digital assets based in France.
With a total expense ratio of 1.69%, the ETP provides investors a cost-effective way to enter the cryptocurrency market. It allows investors to balance their risks through a single investment. Furthermore, the DDA Crypto Select 10 ETP presents an appealing investment opportunity by providing exposure to lending and staking rewards.
“The ETP will track the MarketVector Digital Assets Max 10 VWAP Close Index, an uncapped, market cap-weighted index to reflect the true nature of the cryptocurrency market. We deliberately decided against a capping scheme as the uncapped nature of the DDA Crypto Select 10 ETP captures the true market performance,” said Dominik Poiger, Chief Product Officer of DDA.
DDA Crypto Select 10 ETP will be available to European investors through Deutsche Börse Xetra, under the ticker symbol “SLCT’’ with ISIN DE000A3G3ZD0 and WKN A3G3ZD. More information on the DDA Crypto Select 10 ETP can be found on the DDA website.
DDA is not the first to launch crypto ETP. Last February, financial institution Fidelity launched a physical Bitcoin ETP in Europe in response to a growing demand for digital assets among European consumers, according to FT. A 2023 Global ETF Survey of 549 investment professionals by TrackInsight has also found that 48% would consider investing in single-token ETPs, while 47% would be interested in multi-asset ETPs.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
