21Shares Launches First Officially Endorsed Dogecoin ETP on SIX Swiss Exchange
21Shares, a leading global provider of crypto exchange-traded products (ETPs), announced the launch of a fully backed Dogecoin ETP, listed on the SIX Swiss Exchange under the ticker "DOGE." This marks the first and only Dogecoin ETP officially endorsed by the Dogecoin Foundation, developed in partnership with House of Doge.
The announcement, made on April 9th, 2025, highlights the ETP's availability through banks and brokerages. The partnership with House of Doge, the foundation's corporate arm, underscores the significance of this launch. While Valour recently introduced a Dogecoin ETP in Sweden, 21Shares' offering holds the distinction of being officially backed by the Dogecoin Foundation. The exact listing date on the SIX Swiss Exchange is pending, with a typical processing time of up to 20 exchange days following application submission.
What is a Crypto ETP?
A crypto ETP is a regulated investment product, similar to a stock, that tracks the price of a digital asset. In this case, the 21Shares Dogecoin ETP is 100% physically backed by Dogecoin holdings and carries a 2.5% management fee. This provides investors with a regulated and accessible way to gain exposure to Dogecoin.
Dogecoin's Market Position and Potential Impact
Originating as a meme-based cryptocurrency in 2013, Dogecoin has evolved into a prominent digital asset, accepted by companies like Microsoft and Tesla. Despite recent price volatility, influenced by factors such as new tariff announcements, Dogecoin maintains a significant market capitalization and liquidity. The current price is approximately $0.1474, with a market cap exceeding $21.96 billion, placing it among the top ten most liquid cryptocurrencies.
The listing of the DOGE ETP could significantly impact the Dogecoin market. It is anticipated to facilitate institutional investment, enhance Dogecoin's credibility, increase market liquidity, and potentially provide stronger price support through regulated exposure.
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Tags: 21shares, Crypto Market, DOGE, Dogecoin, Dogecoin Foundation, ETP, Meme Coin
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