Deutsche Digital Assets (DDA) is set to launch a crypto exchange-traded product (ETP) tracking the 10 largest cryptocurrencies by market cap.
The DDA Select 10 ETP (SLCT) will list on the Deutsche Boerse “in the coming weeks” with a total expense ratio (TER) of 1.69%.
SCLT tracks the MarketVector Digital Assets Max 10 VWAP Close index and is almost 90% exposed to the two largest cryptos bitcoin and ethereum, with weightings of 62.5% and 26.3%, respectively.
The ETF also tracks binance coin (5.8%), cardano (1.5%) and solana (0.9%).
Dominik Poiger, chief product officer at DDA, said: “We deliberately decided against a capping scheme as the uncapped nature of SLCT captures the true market performance.
“With the increasing interest in digital assets and the growing demand for crypto ETPs, 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.”
It is the group’s first launch since it rebranded from Iconic Holdings in November last year.
Last week, freshly launched crypto issuer Virtune also unveiled a crypto top 10 ETP, the Virtune Crypto Top 10 Index ETP EUR (VIR10EUR).
Original source: https://www.etfstream.com/articles/deutsche-digital-assets-to-launch-top-10-crypto-etp
