The Valour Dogecoin (DOGE) SEK ETP has been launched on the Spotlight Stock Market in Sweden, providing regulated access to the memecoin.
The Dogecoin ETP has been launched on the Swedish Stock Exchange, providing broader avenues for the globally recognized dog-themed memecoin.
Valour, a subsidiary of DeFi Technologies in Canada, has launched the Valour Dogecoin (DOGE) SEK ETP on the Spotlight Stock Market in Sweden, as part of its mission to democratize access to digital assets.
Dogecoin has a market capitalization of $59.5 billion, making it the seventh largest digital asset, driven by a strong community, with unofficial supporters like Elon Musk.
Investors claim that Musk used his X account (formerly Twitter) and his appearance on NBC's Saturday Night Live (SNL) in 2021, among various other methods, to push the price of Dogecoin up by over 36,000% in the two years leading up to the Dogecoin crash. Musk's close relationship with the memecoin has therefore come under scrutiny. During the SNL appearance, Musk referred to Dogecoin as a "scam" in a "Weekend Update" skit.
Ultimately, the case was dismissed by U.S. District Judge Alvin Hellerstein, which accused Musk of supporting the Memecoin and insider trading that led to billions in losses for investors.
The management fee for the Valour Dogecoin ETP is only 1.9%, which is competitive and provides a simplified and secure investment avenue.
Valour Product Head Elaine Buehler commented: "The launch of the first Dogecoin ETP in the Nordics represents an important milestone in our mission to democratize access to digital assets."
"We are excited to offer investors a regulated product that embodies the essence of Dogecoin's dynamic market influence."
Valour also emphasized the strength of the Dogecoin community and its "accessibility, humor, and practicality," highlighting its wide-ranging applications.
Valour Nordic Head Johanna Belitz stated: "In light of the recent results of the U.S. presidential election and the subsequent surge in demand for Dogecoin, launching the Valour Dogecoin ETP on the Spotlight Stock Market aligns with our mission to provide investors timely access to high-demand digital assets."
"Driven by influential figures like Elon Musk, the growing popularity of Dogecoin highlights our commitment to providing innovative and diverse investment opportunities in the Nordics."
Valour's portfolio also includes ETPs for altcoins such as Solana, Uniswap, and Toncoin.
