1956 (Frankfurt, Germany)
Dr. Stefan Hoops (since 2022)
Publicly Traded (XETRA: DWS)
~€1.19 Trillion (Q2 2026)
$0 (No balance sheet treasury)
~€46M–€57M (~$50M–$70M USD)
Galaxy Digital (Execution & Crypto Asset Partner).
Dr. Stefan Hoops holds a Master’s degree in Business Administration and a Ph.D. in Economics from the University of Bayreuth. He joined Deutsche Bank Group in 2003 in Fixed Income Sales and rose through executive leadership, serving as Global Head of the Corporate Bank prior to his appointment as CEO of DWS in June 2022. On May 1, 2026, he joined Deutsche Bank’s Management Board to oversee its Asset Management segment while retaining his role as DWS CEO. Under his leadership, DWS established a core digital assets unit, partnered with Galaxy Digital to issue physical Bitcoin ETCs, and co-founded AllUnity to develop stablecoin infrastructure.
dws.com
European ETC & Digital Asset Stack
DWS Group provides regulated European access to Bitcoin through its Xtrackers product suite. The Xtrackers Galaxy Physical Bitcoin ETC (XXBT/XXBU) operates in partnership with Galaxy Digital, holding physical BTC in cold storage vaults secured by Zodia Custody and Coinbase Custody. The product integrates directly into European securities clearinghouses.
Vertical Assets
- Xtrackers Galaxy Physical Bitcoin ETC (XXBT/XXBU)
- Xtrackers Galaxy Physical Ethereum ETC (XXET)
- Xtrackers ETF/ETC Platform
- AllUnity (Regulated EURAU Stablecoin)
Key Ecosystem Partners
- Galaxy Digital (Liquidity & Crypto Intelligence)
- Zodia Custody (Ireland) Ltd. (Cold Storage Vaulting)
- Coinbase Custody International Ltd. (Co-Custodian)
- Flow Traders (AllUnity Market-Making Partner)
Strategic Value
DWS Group unlocks European institutional allocation. By issuing XXBT/XXBU under Deutsche Börse Xetra standards, DWS removes custody and regulatory barriers for wealth managers, family offices, and banks across Europe, facilitating regulated capital flows into Bitcoin.
| Primary Business Revenue | Management Fees, Advisory Fees & ETC Product Spreads |
| Direct Physical Corporate BTC | $0 (Does not hold BTC as a corporate treasury reserve) |
| Fund Custodial Bitcoin Exposure | ~€46M–€57M held 1:1 in physical BTC for ETC shareholders |
| Xtrackers Product Fee | 0.25% Annual Fee |
| Physical Custody Vaults | Zodia Custody (Ireland) Ltd. & Coinbase Custody International Ltd. |
| Primary Exchanges | Deutsche Börse Xetra, SIX Swiss Exchange, BX Swiss |
| Group Domicile | Frankfurt am Main, Germany |
Holding & Custody Structure Note: DWS Group holds $0 in direct physical spot Bitcoin on its corporate balance sheet. Instead, the firm provides institutional Bitcoin exposure through the Xtrackers Galaxy Physical Bitcoin ETC (XXBT/XXBU), managing €46M–€57M in assets held 1:1 in segregated offline cold-storage vaults with Zodia Custody and Coinbase Custody, completely isolated from DWS Group and Deutsche Bank corporate liabilities.