In summary
- Valor launched a Dogecoin ETP in Sweden, the first in the Nordics, listed on the Spotlight Stock Market.
- The product seeks to offer regulated and secure access to DOGE, highlighting the growing interest following the US elections.
- Elon Musk fueled renewed interest in Dogecoin, strengthening its prospects with his role in the Trump administration’s DOGE.
Valor, a subsidiary of Canadian Cryptocurrency firm DeFi Technologies, announced the launch of an exchange-traded product for Dogecoin on Tuesday, expanding investor access to the multi-billion dollar meme coin in Sweden.
Called The Value Dogecoin (DOGE) SEK ETP, the product was presented as investors’ first choice for “a simple and secure way to gain exposure to DOGE” in the region. The product is already listed on Sweden’s Spotlight Stock Market, the company said in a press release.
“Introducing the first Dogecoin ETP in the Nordics represents a significant milestone in our mission to democratize access to digital assets,” said Elaine Buehler, Head of Product at Valor, 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 that offer traditional investors exposure to the spot price of digital assets are currently limited to Bitcoin and Ethereum. However, experts recently told Decrypt that as asset managers look for ETFs for Solana and XRP, Dogecoin could enter Wall Street.
While thousands of companies and ETFs are listed on US exchanges like Nasdaq, the Spotlight Stock Market has a comparatively small catalog. Founded in 1997, according to the firm’s website, it has 125 different stocks and 25 exchange-traded products.
Johanna Belitz, Head of Valor for the Nordic countries, cited an increase in demand for Dogecoin following the US presidential election as one of the main motivators for the product. Meanwhile, he noted that Dogecoin’s prospects have recently strengthened thanks to a push from tech CEO Elon Musk.
As one of Dogecoin’s most popular backers, the billionaire has reignited interest in Dogecoin through President-elect Donald Trump’s proposed Department of Government Efficiency (DOGE), which Musk was recently tapped to co-lead.
Valor’s Dogecoin ETP joins its broad set of single-coin products. Among the company’s offerings, investors can access products that offer exposure to Sui (SUI), Toncoin (TON), Uniswap (UNI), Solana (SOL), among other altcoins.
In the last week, Dogecoin has climbed as high as $0.475, hitting a three-year high on Saturday. While the price of the meme coin has increased by 169% in the last month.
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