What Iconic Funds does

Deutsche Digital Assets (DDA), operating under the Iconic Funds / Iconic Holding umbrella, is a Frankfurt am Main-based crypto asset manager founded in 2017. The firm issues a portfolio of physically-backed cryptocurrency Exchange Traded Products (ETPs) — including single-asset Bitcoin (XBTI) and Ethereum (IETH) wrappers, a diversified Crypto Select 10 basket (SLCT), a macro-themed Bitcoin product (BMAC), a dynamic blockchain-themed product (HELI, being discontinued), and the recently launched Safello Bittensor Staked TAO ETP (STAO) — and lists them on traditional European stock exchanges. Investment advisory and white-label ETP services are offered to institutional investors, family offices, and high-net-worth individuals under BaFin licenses held via DDA Europe GmbH, DDA ETP GmbH, and DDA ETP AG (Switzerland).

The underlying technology is standard physically-backed ETP architecture: the underlying crypto is held in institutional custody and the ETP trades on regulated exchanges, allowing investors to gain crypto exposure through conventional brokerage accounts without managing wallets or keys. DDA's product surface spans both passive (single-asset and basket) and active (macro, thematic, advisory) crypto strategies, with multi-country distribution across 24+ European jurisdictions and an explicit U.S. exclusion.

DDA makes money primarily from recurring management fees on ETP AUM, supplemented by professional-services advisory fees paid by family offices and HNWIs, and licensing/royalty income from white-label ETP arrangements with third-party asset managers. The BMAC management fee was waived from 1 March 2025 onward, signaling AUM-growth emphasis over near-term fee monetization on at least one product. No revenue, headcount, funding, or ownership figures are publicly disclosed; the company is privately held with no parent, no external institutional investors identified, and operates an active multi-entity structure in Germany and Switzerland.

Name

Iconic Funds

Legal name

Deutsche Digital Assets GmbH

Website

https://funds.iconicholding.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Deutsche Digital Assets (DDA), part of Frankfurt-based Iconic Funds, is a BaFin-regulated crypto asset manager issuing physically-backed cryptocurrency ETPs on European exchanges and providing advisory and white-label ETP services to institutional investors, family offices, and HNWIs across 24+ European markets.

Ownership category

akta.pro rank

Product category

Crypto Asset Management / Cryptocurrency ETPs

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Investment Advice (6282)

akta.pro primary industry

Index-Tracking Funds, ETPs & Structured Index Products (Crypto) (FSADAHAC)

akta.pro secondary industries

Active Crypto Asset Managers (Discretionary) (FSADAHAA), Crypto Index Providers & Benchmark Administrators (FSADAHAB)

Keywords

• Cryptocurrency exchange traded products
• Crypto asset management
• Investment advisory services
• White label ETPs
• Physically backed crypto ETPs

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. ETP Management Fees: Management fees charged on cryptocurrency Exchange Traded Products. The management fee for DDA Bitcoin Macro ETP is waived from 1st March 2025 until further notice.
2. Investment Advisory Services: Crypto investment advisory services for Family Offices, HNWIs, and institutional investors, provided through BaFin licenses.
3. White-Label ETP Services: Financial product white-labeling services for asset managers, allowing them to offer branded crypto investment products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Iconic Funds operates as a Frankfurt-based crypto asset manager (joint venture of Iconic Holding, trading under Deutsche Digital Assets / DDA) that issues and manages physically-backed cryptocurrency Exchange Traded Products (ETPs) trading on traditional European stock exchanges. In addition to passive single-asset and basket crypto ETPs (Bitcoin, Ethereum, thematic baskets), the firm offers BaFin-licensed crypto investment advisory services to Family Offices, HNWIs, and institutional clients, as well as white-label ETP structuring for third-party asset managers.

Product overview

Deutsche Digital Assets (DDA) operates as a crypto asset manager offering a portfolio of physically-backed crypto Exchange Traded Products (ETPs) and tailored investment solutions. The product lineup includes six distinct crypto ETPs: DDA Crypto Select 10 ETP (SLCT), DDA Physical Bitcoin ETP (XBTI), DDA Physical Ethereum ETP (IETH), DDA Bitcoin Macro ETP (BMAC), DDA Heliad Dynamic Blockchain ETP (HELI), and Safello Bittensor Staked TAO ETP (STAO). In addition to passive ETP products, DDA provides actively managed solutions including DDA Advisory services for Family Offices, HNWIs, and institutional investors, and white-label ETP services for asset managers. All products operate under BaFin regulatory oversight and trade on traditional exchanges for institutional and retail investors.

Differentiator

Problem solved

Functional benefit

Brands

• DDA Crypto ETPs: Physically-backed crypto Exchange Traded Products including Bitcoin, Ethereum, and thematic ETPs
• DDA Tailored Solutions
• DDA Advisory

Products and services

• DDA Crypto Select 10 ETP (SLCT)

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• SafellocoreStrategic or Co-development Partner · 2 June 2026Deutsche Digital Assets collaborated with Safello, the leading cryptocurrency exchange in the Nordics, to list the Safello Bittensor Staked TAO ETP (ISIN: DE000A4APQY4; WKN: A4APQY, Ticker: STAO) on Euronext Paris. The partnership won the XENIX ETF Award Nordics 2026 for this innovative product.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• 21Shares: One of the largest European crypto ETP issuers with a broad product lineup listed across multiple exchanges. Directly comparable to DDA in product structure (physically-backed crypto ETPs), distribution model (exchange listings), and target customer base (European retail and institutional investors).
• CoinShares: European crypto asset manager and ETP issuer with physically-backed products and a digital-asset treasury. Competes directly with DDA across the full spectrum of single-asset, index, and actively managed crypto ETPs on European exchanges.
• ETC Group (subsidiary of Bitwise): European issuer of physically-backed crypto ETPs (e.g., BTCE) listed on Deutsche Börse and other venues. Closely comparable to DDA's XBTI and IETH products in structure, custody approach, and European distribution footprint.
• Valour (DeFi Technologies): Issuer of single-asset and thematic crypto ETPs traded on European exchanges. Overlaps with DDA's product range including thematic exposure products and physically-backed structures targeting European retail and institutional clients.
• HANetf: European white-label and ETP platform that partners with asset managers to launch themed and crypto ETPs. Directly comparable to DDA's white-label offering and similar ETP issuance model on European exchanges.

Broad incumbents

• WisdomTree: Large incumbent ETF/ETP provider that has expanded into physically-backed crypto ETPs across Europe. Competes in the same distribution channels as DDA but operates a much broader product portfolio across multiple asset classes.
• VanEck: Global asset manager offering crypto ETPs in Europe alongside its broader ETF business. Overlaps with DDA's physically-backed crypto ETP category but operates at significantly greater scale and product breadth.
• Grayscale: Largest crypto-focused asset manager offering both US trust products and European ETPs. Direct competitor in the crypto ETP wrapper category targeting institutional and qualified investors.
• AMINA Bank (formerly SEBA Bank): Swiss-regulated crypto-focused bank offering institutional custody, trading, and ETP-related services. Comparable as a regulated European crypto asset-services platform with overlapping institutional client base and BaFin-equivalent regulatory standing.

Emerging players

• Fineqia International: Smaller European-listed crypto ETP issuer with a focused product lineup. Comparable to DDA at a similar scale point, competing for niche thematic and single-asset crypto ETP distribution in European markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/iconicfunds

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iconic Funds