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A Dogecoin ETP has been launched on the Swedish stock exchange, offering wider access to the world's most famous dog-themed memecoin.
Valour, a subsidiary of Canada's DeFi Technologies, launched the Valour Dogecoin (DOGE) SEK ETP on Sweden's Spotlight Stock Market as part of its mission to democratize digital asset access.
With a market cap of $59.5 billion, Dogecoin is the seventh-largest digital asset, fuelled by a robust community with the likes of Elon Musk as its unofficial cheerleader.
Musk's close relationship with the memecoin came under investigation after investors claimed Musk used his X account (Twitter at the time) and a 2021 appearance on NBC's Saturday Night Live (SNL) and various other methods to drive up Dogecoin's price by over 36,000% over two years before its crash. During the SNL episode, Musk referred to Dogecoin as a "hustle" during a "Weekend Update" skit.
Ultimately, the case, which alleged that Musk's endorsement of the Memecoin along with insider trading caused investors to lose billions, was dismissed by US District Judge Alvin Hellerstein.
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Priced with a competitive management fee of 1.9%, the Valour Dogecoin ETP offers a simplified and secure investment pathway.
"Introducing the first Dogecoin ETP in the Nordics represents a significant milestone in our mission to democratize access to digital assets," commented Elaine Buehler, head of product at Valour.
"We are excited to provide investors with a regulated product that captures the essence of Dogecoin's dynamic market presence."
Valour also highlighted the strength of Dogecoin's community as well as its "accessibility, humor, and utility" that underscores its widespread adoption.
“In light of the recent U.S. presidential election results and the subsequent surge in demand for Dogecoin, the launch of the Valour Dogecoin ETP on the Spotlight Stock Market aligns with our mission to provide investors with timely access to high-demand digital assets," said Johanna Belitz, head of nordics at Valour.
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"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.”
Valour’s portfolio also includes ETPs for altcoins like Solana, Uniswap, and Toncoin.
