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Dogecoin Makes Financial History with First-Ever Backed ETP Listed in Europe
In a groundbreaking move, 21Shares has launched the first-ever backed Dogecoin (DOGE) Exchange-Traded Product (ETP) on the SIX Swiss Exchange. This development marks a significant milestone for the DOGE community and the cryptocurrency market as a whole.
The new ETP is fully supported by physical assets, ensuring that investors can gain exposure to Dogecoin through traditional financial channels. In addition, 21Shares will charge a management fee of 2.5% for their services.
The successful launch of this ETP on the SIX Swiss Exchange is expected to pave the way for institutional investment and further increase mainstream adoption of DOGE. This move has been hailed as a major victory for the crypto community, which has long sought greater recognition and integration with traditional financial systems.
Dogecoin was initially launched in 2013 as a lighthearted alternative to Bitcoin. Since then, it has become one of the most recognizable and accessible cryptocurrencies on the market due to its low fees, rapid transaction speeds, and widespread user adoption.
The launch of this ETP is seen by many as a crucial step towards legitimizing DOGE as a viable investment option for institutional investors and individual traders alike. The cryptocurrency’s price currently stands at $0.145, with a 3.35% decline from the previous day’s closing value.
Despite this drop in value, market participants remain optimistic about the prospects of a DOGE ETF launch later this year, fueled by the success of the XRP ETF launched recently.
Source: https://www.crypto-news-flash.com/dogecoin-makes-history-with-etp-in-eu/?utm_source=rss&utm_medium=rss&utm_campaign=dogecoin-makes-history-with-etp-in-eu
