Germany-based digital asset management company, Deutsche Digital Assets, declared that it will team up with other European businesses to launch a physically backed bitcoin fund.
The new Deutsche Digital Assets crypto fund was named DDA Crypto Select 10 ETP.
It was jointly formed by Deutsche Digital, DRW Europe, Jane Street, and Goldenberg Hehmeyer.
Deutsche Digital Assets Crypto Fund
The new digital investment product established Deutsche Digital as the first multi-asset fund in the history of the corporation.
According to company representatives, the mutual fund with the SLCT code will store tangible crypto collateral under Aplo’s guarantee.
Bitcoin and numerous altcoins are part of the cryptocurrency investment fund known as DDA Crypto Select 10 ETP.
According to information reported in the press, the fund will contain 61% of Bitcoin (BTC), 26.50% of Ethereum (ETH), and 5.80% of Binance Coin (BNB).
Altcoins including Polygon, Solana, Tron, Litecoin, Cardano, and Polkadot are among the ones with the remaining low investment shares.
Promises were made by the officials that the mutual fund will be rebalanced every quarter to reflect spot market cryptocurrency prices.
Investors will be required to contribute a 1.69% expense cut to the fund, which will be listed on the Deutsche Börse Xetra stock exchange in Germany.
According to Dominik Poiger, the Chief Product Officer of Deutsche Digital Assets,
“We are excited to launch the DDA Crypto Select 10 ETP which we believe will offer significant value to our investors. We deliberately decided against a capping scheme as the uncapped nature of the DDA Crypto Select 10 ETP captures the true market performance.”
Dominik is of the opinion that,
“With the increasing interest in digital assets and the growing demand for crypto exchange-traded products, DDA is well-positioned to meet the needs of investors looking for a safe and regulated way to invest in crypto assets through trusted investment vehicles.”
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