Deutsche Digital Assets is diversifying its crypto ETP portfolio with the introduction of its inaugural multi-asset crypto ETP.
In Brief
Deutsche Digital Assets has made an impressive move by introducing its first multi-asset exchange-traded product focused on cryptocurrencies.
This ETP allows investors to tap into the ten most significant cryptocurrencies based on their market cap.
European investors will soon have access to the DDA Crypto Select 10 ETP via the Deutsche Börse Xetra platform.
As part of its expansion, Deutsche Digital Assets has introduced the DDA Crypto Select 10 ETP, marking their entry into multi-asset crypto ETPs.
In the upcoming weeks, this new ETP will make its debut on Deutsche Börse Xetra, providing investors the chance to invest in the ten leading cryptocurrencies by market capitalization. DDA reports that the DDA Crypto Select 10 ETP is fully backed by a diverse selection of cryptocurrencies that comprise the MarketVector™ Digital Assets Max 10 VWAP Close Index, a specially tailored market cap-weighted index that monitors the performance of the largest and most liquid digital assets, which was launched on May 15.
The ETP is secured with a high-grade custody solution from Aplo SAS, a fully licensed Prime Broker for digital assets within the EU based in France.
With a total expense ratio of 1.69%, this ETP offers a budget-friendly entry point into the cryptocurrency realm. It enables investors to manage their risks effectively through a single investment. Additionally, the DDA Crypto Select 10 ETP presents an exciting investment opportunity by allowing participants to benefit from lending and staking rewards.
"This ETP will reflect the MarketVector Digital Assets Max 10 VWAP Close Index, which is an unrestricted, market cap-driven index designed to accurately present the real dynamics of the cryptocurrency sector. We intentionally opted out of a capping system because the unrestricted format of the DDA Crypto Select 10 ETP reflects the authentic market performance,” stated Dominik Poiger, Chief Product Officer at DDA.
The DDA Crypto Select 10 ETP will be accessible to European investors through Deutsche Börse Xetra, identified by the ticker 'SLCT' along with ISIN DE000A3G3ZD0 and WKN A3G3ZD. Additional details regarding the DDA Crypto Select 10 ETP can be located on DDA website .
DDA isn’t pioneering the crypto ETP landscape; in February, Fidelity debuted a physical Bitcoin ETP in Europe, prompted by increasing interest in digital assets among European investors. according to FT . A 2023 Global ETF Survey According to a survey conducted by TrackInsight among 549 investment professionals, 48% expressed interest in single-token ETPs, while 47% showed a preference for multi-asset ETP options.
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