$932 Billion DWS Launches 1:1 Backed 'Physical' Bitcoin ETC in Germany

DWS, a $932 billion asset manager, has partnered with Galaxy Digital to launch a 'physical' Bitcoin Exchange-Traded Commodity (ETC) in Germany. This move allows investors to gain exposure to bitcoin directly in some traditional investment accounts, moving beyond the limitations of derivatives. The newly launched 'Xtrackers Galaxy Physical Bitcoin ETC' is 1:1 physically backed and utilizes two cryptocurrency custodians, Zodia Custody and Coinbase. This launch is part of a broader trend, with several countries including the USA, England, and Germany introducing physically backed Bitcoin exchange-traded products this year, signaling growing institutional interest in cryptocurrency. The launch has sparked institutional FOMO (Fear Of Missing Out).