21Shares has announced the launch of the world's first exchange-traded product (ETP) based on Dogecoin, now available on the SIX Swiss Exchange.
Launch of the First Dogecoin ETP
21Shares, in collaboration with House of Doge, has unveiled the ETP, which is now officially trading on the SIX Swiss Exchange under the ticker symbol DOGE. This physically-backed product aims to bridge traditional financial markets with the Dogecoin ecosystem.
Support from Dogecoin Foundation
In a press release, 21Shares President Duncan Moir noted that the new product delivers "the most direct and accessible way to gain exposure to the Dogecoin ecosystem." House of Doge Advisory Board member Jens Wiechers added that Dogecoin was created to be "a fun, accessible form of peer-to-peer money," and achieving global currency status requires institutional backing.
21Shares' Strategy in Crypto ETPs
The launch of the Dogecoin ETP comes on the heels of 21Shares’ recent expansion in Europe, where the company listed three new crypto-backed products on Nasdaq Stockholm. These steps emphasize 21Shares' ambition to lead the market across 11 major exchanges.
The launch of the Dogecoin ETP suggests the possible maturity of the meme coin in institutional investments.
