Key takeaways
- DeFi Technologies’ Valor has launched the first-ever Dogecoin ETP on the Swedish 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, announcement today launched a Dogecoin (DOGE) exchange-traded product (ETP). The fund, the first of its kind in the Nordics, debuts amid growing interest in Dogecoin, driven by support from Elon Musk.
“In light of the recent results of the US presidential election and the subsequent increase in demand for Dogecoin, the launch of the Valor Dogecoin ETP on the Spotlight exchange aligns with our mission to provide investors rapid access to in-demand digital assets,” said Johanna Belitz, Head of Nordics at Valour.
“The growing popularity of Dogecoin, supported by influential figures like Elon Musk, highlights our commitment to providing innovative and diverse investment opportunities,” she added.
With the new product, Valor aims to allow investors to gain exposure to Dogecoin, the seventh largest crypto asset by market capitalization, without the complexities associated with direct crypto ownership.
The Valor Dogecoin ETP is listed on the Swedish Spotlight stock market and has a management fee of 1.9%.
Valor’s portfolio covers many 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 various digital assets.
Originally created in 2013 as a lightweight alternative to Bitcoin, Dogecoin has developed a strong community and is known for its use in tipping and charitable initiatives.
The Tesla CEO has become a prominent figure in the Dogecoin ecosystem, often using his social media presence to influence its popularity.
Following Donald Trump’s recent victory in the presidential election, Dogecoin saw a sharp rise in value, reaching 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 Effectiveness” or DOGE.
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