DeFi Technologies’ Subsidiary Valour Launches First Dogecoin (DOGE) ETP
Valour, a subsidiary of DeFi Technologies, launched the Valour Dogecoin (DOGE) ETP on Sweden’s Spotlight Stock Market. The ETP allows retail and institutional investors to gain exposure to the world’s largest memecoin, Dogecoin (DOGE).
The launch of the Valour Dogecoin (DOGE) ETP expands Valour’s digital asset products, offering investors exposure to the world’s largest memecoin by market cap without direct DOGE ownership.
Traditional Finance Seeks Access to Memecoins
The parent company of Valour Inc., DeFi Technologies, announced the introduction of Valour Dogecoin (DOGE) ETP on Sweden’s Spotlight Stock Market. The launch marks the first Dogecoin ETP available in the Nordics, allowing retail and institutional investors to gain exposure to DOGE without directly owning Dogecoin. DeFi Technologies, a crypto-native tech company at the forefront of merging traditional capital markets with DeFi, said its subsidiary Valour, a leading issuer of exchange-traded products (ETPs), now offers investors a simple and secure way to gain exposure to Dogecoin, which currently holds a market cap of $59.53 billion and is the 7th largest digital asset globally.
Dogecoin Surges on the Back of US Election
The Valour Dogecoin (DOGE) ETP grants investors exposure to Dogecoin’s performance without directly owning the cryptocurrency. Through a management fee of 1.9%, the ETP provides investors a secure avenue to participate in the crypto market.
Elaine Buehler, Head of Product at Valour, commented;
“Introducing the world’s first Dogecoin ETP in the Nordics represents a significant milestone in our mission to democratize access to digital assets. We are excited to provide investors with a regulated product that captures the essence of Dogecoin’s dynamic market presence.”
Dogecoin (DOGE) surged in popularity and value after Donald Trump’s election victory and the president-elect’s announcement of the Department of Government Efficiency, nicknamed DOGE. According to Trump, DOGE will pave the way for his administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditure, and restructure Federal Agencies – Essential to the “Save America” Movement.” Elon Musk and Vivek Ramaswamy will co-lead the newly created department.
Johanna Belitz, Head of Nordics at Valour, commented on the motivation behind the launch of the ETP.
“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. The growing popularity of Dogecoin, bolstered by influential figures like Elon Musk, highlights our commitment to delivering innovative and diversified investment opportunities in.”
The Rise of Dogecoin (DOGE)
Dogecoin, the OG memecoin, is a peer-to-peer, open-source cryptocurrency introduced in 2013 as a comedic alternative to Bitcoin. Despite its joking beginnings, DOGE transitioned into the most popular and widely utilized digital currency with strong community backing and market presence. DOGE employs the Scrypt algorithm to enable fast and low-cost transactions and boasts several unique features. Dogecoin’s utility stems from its inflationary design with no maximum supply and its support for steady coin issuance, all of which make it ideal for microtransactions and daily use. The memecoin is widely used to tip content creators, donate to charitable causes, participate in crowdfunding initiatives, and make payments to merchants like SpaceX and the Dallas Mavericks.
DOGE’s success is driven by its active and loyal community and the support of Elon Musk. The memecoin surged in value following Trump’s victory, gaining over 145% in the past month.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
