- 21Shares announces first Dogecoin ETP endorsed by the Dogecoin Foundation to launch on Switzerland‘s SIX Swiss Exchange.
- The physically-backed exchange-traded product aims to provide regulated institutional access to Dogecoin with a 2.5% management fee.
- This launch follows a similar Dogecoin ETP introduced by Valour on Sweden‘s Spotlight Stock Market last month.
21Shares has announced the launch of Europe‘s first Dogecoin exchange-traded product (ETP) officially endorsed by the Dogecoin Foundation. The new investment vehicle will trade on Switzerland’s SIX Swiss Exchange under the ticker DOGE, creating a regulated pathway for institutional investors to gain exposure to the popular meme cryptocurrency that began as an internet joke in 2013.
The ETP is being developed through a partnership with the House of Doge, the official corporate division of the Dogecoin Foundation. According to the company’s statement, the product will be fully backed by actual Dogecoin holdings and carry a 2.5% management fee.
Institutional Recognition for Dogecoin
Duncan Moir, President at 21Shares, highlighted the significance of this offering: “With this exclusive initiative, we’re providing investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem.” The company notes that despite starting as a joke, Dogecoin has evolved into a cryptocurrency widely used for micropayments, tipping, and everyday transactions.
The Dogecoin Foundation’s co-executive director, Jens Wiechers, emphasized that the ETP creates a regulated path for institutions to join and expand the ‘Dogecoin is Money’ vision. “Global adoption is critical,” Wiechers stated, adding that the ETP provides the “credibility and backing needed to thrive at scale.”
Growing Institutional Interest in Meme Coins
This announcement follows crypto fund issuer Valour’s recent launch of its own Dogecoin ETP on Sweden’s Spotlight Stock Market last month. Valour’s Head of Nordics, Johanna Belitz, noted their product was introduced “in light of the recent U.S. presidential election results and the subsequent surge in demand for Dogecoin,” partially driven by interest from Tesla CEO and Department of Government Efficiency (DOGE) head Elon Musk.
Despite experiencing a monthly decline of 14.6%, Dogecoin has maintained stability in recent trading, hovering between $0.14 and $0.17 over the past week. As of Wednesday, it was trading at $0.1465.
According to CoinGecko data, Dogecoin continues to rank among the top ten most liquid digital assets with a market capitalization exceeding $21.7 billion, demonstrating its enduring presence in the cryptocurrency landscape despite its origins as an internet meme.
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