Memes for masses? Dogecoin ETP lands on the Swedish stock exchange

Valour, a subsidiary of Canadian crypto company DeFi Technologies, has revealed the launch of an exchange-traded product for Dogecoin Expanding investor access to the multibillion-dollar coin in Sweden on Tuesday.

Dubbed The Valor Dogecoin (DOGE) SEK ETP, the product was touted as investors’ first-ever option for “a simple and secure way to gain exposure to DOGE” in the region. The product is now listed on the Swedish Spotlight exchange, the company said in a statement. press release.

“The introduction of the first Dogecoin ETP in the Nordics represents an important milestone in our mission to democratize access to digital assets,” Elaine Buehler, Valour’s head of product, said in a statement. “We are excited to provide investors with a regulated product that captures the essence of Dogecoin’s dynamic presence in the market.

In the United States, products providing traditional investors with exposure to the spot price of digital assets are currently limited to just Bitcoin and Ethereum. But experts recently said Decrypt that, as asset managers turn to Solana and XRP ETFDogecoin could wade in the Wall Street mix.

While thousands of companies and ETFs are listed on U.S. exchanges like Nasdaq, the Spotlight Exchange has a relatively small list. Founded in 1997, according to the firm websiteit offers 125 different stocks as well as 25 exchange-traded products.

Johanna Belitz, head of Nordics at Valour, cited the increase in demand for Dogecoin following the US presidential election as one of the main motivators for the product. At the same time, she noted that Dogecoin’s prospects have been bolstered recently by like tech CEO Elon Musk.

As one of Dogecoin’s most popular backers, the billionaire has sparked renewed interest in Dogecoin thanks to President-elect Donald Trump’s proposal. Ministry of Government Effectiveness (DOGE), which Musk was recently chosen to co-lead.

Valour’s Dogecoin ETP joins its wide range of single coin products. Among the company’s offerings, investors can access products providing exposure to Sui (SUI), Toncoin (TONNE), Uniswap (UNITED), And Solana (GROUND), among several other altcoins.

Over the past week, Dogecoin has climbed as high as $0.475, reaching a a three-year high SATURDAY. Although the meme coin’s price rose 169% over the past month, it lagged the overall crypto market on Tuesday, falling 6.3% to $0.38.