In what is a massive development for the crypto sector, Deutsche Digital Assets (DDA) has seen its macro Bitcoin ETP begin trading today. Indeed, the firm announced the world’s first macro ETP that is now trading on the Euronext Paris stock exchange.
The German crypto asset manager took to X (formerly Twitter) to announce the launch of the landmark product. They note the new product “provides investors with a dynamic, systemic exposure to Bitcoin,” and USDC. The offering is set to be yet another key investment opportunity for entities looking to increase their exposure to BTC.
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World’s First Macro Bitcoin ETP Begins Trading Today
2024 has proven to be a massive year for Bitcoin investment. Indeed, the market has introduced new ways for traditional finance firms to embrace the leading cryptocurrency. With the US debut of the first crypto-based ETFs for BTC, the world is following suit.
The latest landmark arrival comes from Deutsche Digital Assets, whose macro Bitcoin ETP is set to begin trading today. The first of its kind, it is set to be a massive moment for the digital asset sector, and the German-based firm. This is especially true when considering the unique ways in which the ETP operates.
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According to DDA, the product utilizes, “key macroeconomic factors to optimize its Bitcoin exposure and enhance long-term risk management, at a total expense ratio of 2.00%.” Additionally, the offering is “100% physically backed by a basket of cryptocurrencies,” and held by Coinbase.
The firm’s Chief Product Officer, Dominik Poiger, noted the milestone event of the launch. “With the listing on Euronext Paris investors from France can now invest even more economically and easily in the only macro ETP on Bitcoin,” he said. Additionally, he noted its arrival “gives investors exposure to Bitcoin while trying to protect against adverse macro environments.”