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Seeking Alpha 2023-02-08 16:40:57

Deutsche Bank's DWS reportedly shopping for crypto investments

Deutsche Bank's ( NYSE: DB ) asset management unit, DWS Group, is considering taking minority investments in two cryptocurrency companies as a means to spark growth, Bloomberg reported Wednesday, citing people familiar with the matter. The firm has held talks about purchasing a minority stake in Deutsche Digital Holdings, a Frankfurt-based company that offers crypto exchange-traded products, the the people said. It has also talked with Tradias, a market-making firm owned by Bankhaus Scheich, about a minority stake, Bloomberg said . DWS Group has been trying to restore its reputation after a greenwashing scandal. Asoka Woehrmann resigned as CEO last year soon after German authorities raided DWS offices in May to investigate allegations that the asset management business misled investors regarding ESG claims. Stefan Hoops took over as CEO of DWS in June. DWS Group didn't immediately respond to a request for comment. SA contributor John Miller discusses the February Fed and six more weeks of crypto winter

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