First-ever Dogecoin ETP debuts in Nordics as Elon Musk boosts interest in the crypto asset
Key Takeaways
- DeFi Technologies’ Valour launched the first ever Dogecoin ETP on Sweden’s Spotlight Stock Market.
- DOGE recently hit a three-year high amid broader crypto market activity.
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Valour, a digital asset investment subsidiary of DeFi Technologies, announced today the launch of a Dogecoin (DOGE) exchange-traded product (ETP). The fund—first of its kind in the Nordics—debuts amid increasing interest in Dogecoin driven by Elon Musk’s endorsement.
“In light of the recent US presidential election results and the subsequent surge in demand for Dogecoin, the launch of the Valour Dogecoin ETP on the Spotlight Stock Market aligns with our mission to provide investors with timely access to high-demand digital assets,” said Johanna Belitz, Head of Nordics at Valour.
“The growing popularity of Dogecoin, bolstered by influential figures like Elon Musk, highlights our commitment to delivering innovative and diversified investment opportunities,” she added.
With the new product, Valour aims to enable investors to gain exposure to Dogecoin, the seventh-largest crypto asset by market cap without the complexities associated with direct crypto ownership.
The Valour Dogecoin ETP is listed on Sweden’s Spotlight Stock Market and features a management fee of 1.9%.
Valour’s portfolio covers numerous crypto assets such as Bitcoin, Ethereum, Uniswap (UNI), Cardano (ADA), and Polkadot (DOT), to name a few. The firm aims to continue expanding access to diverse digital assets.
Originally created in 2013 as a lighthearted alternative to Bitcoin, Dogecoin has developed a strong community and is known for its use in tipping and charitable initiatives.
The CEO of Tesla has become a prominent figure in the Dogecoin ecosystem, often using his social media presence to influence its popularity.
Following Donald Trump’s recent presidential election victory, Dogecoin saw a major surge in value, hitting a three-year high amid market optimism. The rally is driven by Trump’s stance on crypto and Musk’s creation of the “Department of Government Efficiency,” or DOGE.
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