Dogecoin gains ground in Nordics with first-ever ETP introduction
DeFi Technologies, a publicly traded Canadian firm, has announced the launch of its subsidiary Valour Inc.s new productthe Valour Dogecoin (DOGE) ETPon the Sweden-based Spotlight Stock Market, according to a Nov. 26 statement.
This marks the first Dogecoin ETP in the Nordics, giving investors a secure and simplified way to gain exposure to the popular digital asset.
The Valour Dogecoin (DOGE) SEK ETP is designed to eliminate the complexities of directly owning digital assets. The fund charges a management fee of 1.9% while providing a cost-effective and streamlined way for investors to participate in the growing crypto market.
Johanna Belitz, Head of Nordics at Valour, highlighted the launchs importance, stating that the increasing demand for Dogecoin aligns with the companys mission to provide timely access to high-demand digital assets. She added:
The growing popularity of Dogecoin, bolstered by influential figures like Elon Musk, highlights our commitment to delivering innovative and diversified investment opportunities in the Nordics.
Meanwhile, the Dogecoin ETP reflects a more significant trend of institutional interest in making digital assets more accessible to investors. Since the introduction of Bitcoin and Ethereum ETFs in the US, traditional financial institutions have diversified their offerings to include assets like Solana and XRP.
Additionally, Dogecoin has gained traction among institutions, exemplified by Spirit Blockchain Capitals acquisition of Dogecoin Holdings. This move indicates plans to develop new financial products to expand the meme coins utility and adoption.
DOGE price
This launch coincides with heightened activity in the crypto market.
Dogecoin recently surged to a three-year high, buoyed by Bitcoins rally near the $100,000 mark. However, according to CryptoSlates data, DOGE has retraced by 11% to $0.3731 as of press time.
Despite this dip, Dogecoin remains a focal point in the crypto ecosystem due to its unique cultural significance and consistent promotion by influential supporters like tech billionaire Elon Musk.
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Text source: CryptoSlate
