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German Fund Manager Readies Crypto ETF Launch Amid Internal Debate Over Bitcoin Worth

2 mins
Updated by Geraint Price
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In Brief

  • DWS Group, a German fund manager with $900 billion in assets, is set to launch crypto ETFs amid internal debate over Bitcoin's (BTC) value.
  • The firm's Global CIO, Bjoern Jesch, highlighted the challenge of forecasting digital currencies due to their lack of history and collateral.
  • Despite internal debates, DWS Group has formed a strategic alliance with Galaxy Digital to introduce new crypto products in Europe.
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DWS Group, a German fund manager overseeing assets worth $900 billion, is preparing to launch crypto exchange-traded funds (ETFs) for retail investors.

Crypto ETFs are poised to become mainstream, as many reputed fund managers have already filed with the regulators. While a German fund manager prepares to release its crypto ETFs, the team members have different opinions.

Can Bitcoin Justify Its $35,000 Price? DWS Employees Argue Over Crypto ETF

In October 2023, Bitcoin (BTC) reached 15-month highs by hitting the $35,000 price zone. While the market participants decide the price, some believe that the value of crypto is zero. 

According to Bloomberg, Bjoern Jesch, DWS Group’s Global Chief Investment Officer, said in an interview:

“One camp of people in my group is saying forget it, the value of crypto is zero, there’s nothing behind it. And there’s this other group of people saying like, hmm, I mean at least there’s a price of $35,000 for Bitcoin. Someone is paying $35,000.”

Read more: Crypto Hedge Funds: What Are They and How Do They Work?

DWS Group is a Deutsche Bank subsidiary and manages around $900 billion worth of funds. In April, it formed a strategic alliance with Galaxy Digital to launch new crypto products across Europe.

Bitcoin reaches $35! Warren Uses Crypto as a Scapegoat, Again! Source: YouTube

Jesch further said:

“The most complex thing is to make a forecast on digital currencies. You do not have that much history. You don’t have collateral, you don’t have an economy, you don’t have a central bank.”

While Jesch may not have a strong conviction about the crypto assets, MicroStrategy co-founder and Bitcoin maximalist Michael Saylor continues to acquire more Bitcoin. On Thursday, he announced that the firm accumulated an additional 155 Bitcoin for $5.3 million in October. Saylor said recently the “next logical step for Bitcoin is to 10x, and then 10x again.”

The firm now holds 158,400 Bitcoin, bought at an average price of $29,874. Saylor Tracker, a website that tracks the Bitcoin portfolio of MicroStrategy based on its public announcement, shows that the firm has an unrealized profit of $894.9 million on its holdings.

Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know

MicroStrategy's Bitcoin portfolio
Status of MicroStrategy’s Bitcoin portfolio. Source: Saylor Tracker

Do you have anything to say about the DWS crypto ETF or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...