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Finance

Galaxy Digital to Develop European-Listed ETPs With Asset Manager DWS

The product will give investors in Europe access to digital assets through traditional brokerage accounts.

By Jamie Crawley
AccessTimeIconApr 26, 2023 at 12:07 p.m. UTC
Updated May 9, 2023 at 4:13 a.m. UTC
Galaxy Digital CEO Mike Novogratz talks to Bloomberg's Haslinda Amin at a conference in Singapore last year. (Sam Reynolds/CoinDesk)
Galaxy Digital CEO Mike Novogratz talks to Bloomberg's Haslinda Amin at a conference in Singapore last year. (Sam Reynolds/CoinDesk)

Crypto financial-services firm Galaxy Digital is teaming up with asset manager DWS to develop exchange-traded products for listing in Europe, according to an announcement on Wednesday.

The ETPs will give European investors access to digital-asset investment through traditional brokerage accounts. Frankfurt, Germany-based DWS, which has 821 billion euros ($907 billion) in assets under management, will be Galaxy's "exclusive ally" for crypto ETPs in Europe, the announcement said.

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    • Galaxy has previously listed exchange-traded funds in Canada with CI Global Asset Management.

    While the U.S. Securities and Exchange Commission's repeated rejection of applications to list spot bitcoin ETFs in the U.S. has been a source of frustration in the industry, similar products are now well established in Europe and Canada.

    The investment vehicles provide institutional investors with an entry point to crypto without requiring the investors to own digital assets directly, which has been impediment to wider adoption.

    Read More: Galaxy Digital Closes $44M Acquisition of Self-Custody Platform GK8

    Edited by Parikshit Mishra and Mark Nacinovich.




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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter