Following the Bitcoin and Ethereum ETF approvals in the US, spot ETF applications were made for many altcoins such as XRP, Solana and Dogecoin.
While many are under investigation before the SEC, a significant move for DOGE came from digital asset management firm 21Shares.
21Shares has announced the launch of its Dogecoin ETP (DOGE) backed by the DOGE foundation.
21 Shares' Dogecoin ETP will be listed on the Swiss exchange SIX, while its DOGE ETP will be the first and only Dogecoin ETP backed by the Dogecoin Foundation.
21 Shares’ ETP aims to offer regulated institutional access to Dogecoin, a memecoin that was born as a joke in 2013.
Duncan Moir, Chairman of 21Shares, said:
“With this exclusive partnership with the Dogecoin Foundation, we are providing investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem.
Dogecoin has become more than just a cryptocurrency: it represents a cultural and financial movement that continues to drive mainstream adoption, and DOGE offers investors a regulated way to be a part of this exciting project.” Moir noted that the ETP is 100% physically backed, with each unit backed by actual DOGE assets, and will incur a 2.5% management fee.
*This is not investment advice.
