Deutsche Digital Assets (DDA) plans to introduce a crypto exchange-traded product (ETP) called DDA Select 10 ETP (SLCT). This ETP will track the performance of the 10 largest cryptocurrencies by market capitalization. It is expected to be listed on the Deutsche Boerse in the coming weeks. The ETP will have a total expense ratio (TER) of 1.69%.
SLCT will replicate the MarketVector Digital Assets Max 10 VWAP Close index, with a significant exposure of around 90% to the two largest cryptocurrencies, bitcoin (62.5%) and ethereum (26.3%). It will also include other cryptocurrencies such as binance coin (5.8%), cardano (1.5%), and solana (0.9%).
DDA has chosen not to implement a capping scheme for SLCT, allowing it to reflect the true performance of the market. Dominik Poiger, chief product officer at DDA, emphasizes the increasing interest in digital assets and the growing demand for crypto ETPs. DDA aims to provide a safe and regulated investment option for investors seeking exposure to crypto assets through trusted investment vehicles.
This launch marks DDA’s first product introduction since rebranding from Iconic Holdings in November of the previous year.