Galaxy approaches DWS to launch crypto ETPs in Europe

Galaxy Digital has established a partnership with the German asset management company DWS in order to launch exchange-traded products axed crypto on the European continent.

Billionaire Mike Novogratz’s company, Galaxy Digitalaims to provide “simple and secure access to the digital asset ecosystem for European investors. To this end, it has partnered with DWSa large German traditional asset manager with more than 800 billion euros of AUM.

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The two firms plan to offer a “complete suite from exchange-traded products (ETP) on several digital assets. The ambition: to create “profitable investment solutions available in Europe via traditional brokerage accounts.

By partnering with DWS, one of the world’s most successful and innovative asset management firms, we are excited to enhance our ability to provide comprehensive solutions to European investors, enabling them to tap into the vast potential and promise of blockchain technology and digital assets,” commented Steve Kurz, Global Head of Asset Management at Galaxy.

According to a statement, the union will combine DWS’ expertise in portfolio management, product structuring and distribution with Galaxy’s crypto infrastructure.

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“We look forward to working with Galaxy to further accelerate the international adoption of the digital asset economy said Fiona Bassett, Global Head of Systematic Investment Solutions at DWS.

Last month, Galaxy Digital announced a $1 billion loss for the year 2022.

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