21 Shares to Table Dogecoin ETP Backed by a Foundation on the SIX Swiss Exchange

Dogecoin recently received its biggest administrative smile already.

One of the largest issuers of crypto-exchange-traded products ( ETPs ) in the world, 21Shares, announced on Wednesday that it would list a Dogecoin ETP on Switzerland’s SIX Swiss Exchange under the ticker DOGE.

The Dogecoin Foundation will approve the solution as its first and simply Dogecoin ETP, developed as a result of a partnership between the House of Doge, the foundation’s standard business arm.

A bitcoin ETP is a restricted investment product that trades on traditional exchanges in the same way as a stock and is typically listed in Europe. It tracks the price of a solitary digital asset.

Dogecoin, a joke gold created in 2013 as an online joke, is being made available for institutional use with the release. The European-based finance giant stated in a statement that the bitcoin is now commonly used for micropayments, tipping, and other daily transactions.

With this distinctive initiative, we’re giving investors the most immediate and accessible way to get a handle on the Dogecoin ecosystem, according to Duncan Moir, President at 21Shares.

Each device is supported by actual DOGE assets, and the ETP may cost a management fee of 2 %.

The launch, according to Jens Wiechers, co-executive chairman of the Dogecoin Foundation, will open a restricted path for organizations to join and advance the” Doublecoin is Money” philosophy.

According to Wiechers, “global adoption is essential,” adding that Dogecoin will gain the” credibility and support needed to thrive at size” thanks to the ETP.

Crypto account issuer Valour, which released its own Dogecoin ETP past month on Sweden’s Spotlight Stock Market, is the latest to list its shares in this manner.

The ETP was introduced in light of the recent U.S. presidential election results and the subsequent surge in demand for Dogecoin, according to Johanna Belitz, Head of Nordics at Valour. This was fueled in part by interest from Tesla CEO and&nbsp, Department of Government Efficiency ( DOGE ) head Elon Musk.

Dogecoin traded at$ 0.1465 as of Wednesday morning despite having a monthly pullback of 14.6 %, which was within a narrow range of$ 0.14 to$ 0.17 over the previous week.

According to CoinGecko data, the image gold continues to rank among the top ten most wet electronic goods and has a market cap of more than$ 21.7 billion.