DWS Group, a subsidiary of Deutsche Bank overseeing $US900 billion in assets, has unveiled plans to introduce crypto exchange-traded funds (ETFs) to the European market.

Bjoern Jesch, DWS's global chief investment officer, outlined the internal debate within the company, where some individuals express skepticism, considering the value of crypto as nothing.

“One camp of people in my group is saying forget it, the value of crypto is zero, there’s nothing behind it," Jesch stated in comments to Bloomberg.

Skeptics contended that cryptocurrencies are a speculative bubble and are associated with money laundering and fraudulent activities, emphasising the market's extreme price fluctuations as evidence of its unreliability.

On the other hand, major industry players such as BlackRock Inc and Fidelity Investments have sought approval to launch such products, further fuelling discussions about the credibility of cryptocurrencies.

Reportedly, DWS, primarily owned by Deutsche Bank, collaborated with Galaxy Digital in April to develop a range of ETFs for the European market.

The move, along with an expanded mandate for the DWS Fintech Fund to invest in crypto, signals a wider acceptance of digital currencies within the firm.