Dogecoin ETP was first launched in the Nordics when Elon Musk raised interest in the crypto asset
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DeFi Technologies' Valor launches the first Dogecoin ETP on the Swedish Spotlight Market. DOGE recently hit a three-year high amid broader crypto market activity.
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Valour, the digital asset investment subsidiary of DeFi Technologies, today announced the launch of its Dogecoin (DOGE) Exchange Traded Product (ETP). The currency—the first of its kind in the Nordics—was launched at a time when interest in Dogecoin was surging, led by Elon Musk's backing.
“The launch of the Valor Dogecoin ETP on the Spotlight Stock Market is in line with our mission to provide investors with timely access to high-demand digital assets in light of the recent US presidential election results and subsequent surge in interest in Dogecoin,” he said. Johanna Belitz, Head of Nordics in Valor.
“The growing popularity of Dogecoin, backed by influential figures such as Elon Musk, underscores our commitment to providing new and diverse investment opportunities,” she added.
With the new product, Valor aims to allow investors to directly gain exposure to Dogecoin, the seventh largest by market capitalization, without the complexities associated with crypto ownership.
The Valor Dogecoin ETP is listed on the Swedish Spotlight Market and carries a management fee of 1.9%.
Valor's portfolio covers several crypto assets such as Bitcoin, Ethereum, Uniswap (UNI), Cardano (ADA) and Polkadot (DOT) to name a few. The company aims to continue expanding access to a variety of digital assets.
Originally created in 2013 as a lightweight alternative to Bitcoin, Dogecoin has developed a strong community and is known for its TP and charitable initiatives.
The CEO of Tesla has become a popular figure in the Dogecoin ecosystem, often using it to influence its popularity in social networks.
Following Donald Trump's recent presidential election win, Dogecoin hit a three-year high amid market optimism. The rally was led by Trump's stance on crypto and Musk's creation of the “Department of Government Efficiency,” or DOGE.
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