Valour Inc., a subsidiary of DeFi Technologies, has introduced Valour Dogecoin ETP on Sweden’s Spotlight Stock Market. According to DeFi Technologies’ announcement on PR Newswire, this DOGE exchange-traded product (ETP) is the first of its kind in the Nordics.
With this new introduction, Valour has expanded its digital asset products. The ETP will provide the firm’s investors with more exposure to Dogecoin, which currently ranks seventh among the top cryptocurrencies based on market capitalization.
https://twitter.com/ValourFunds/status/1861402883977068948
Deep Dive Into the Dogecoin ETP
Valour Dogecoin ETP, or simply DOGE ETP, is a digital product which Valour intends to use as a gateway to more Dogecoin accessibility for its investors. The ETP will allow retail and institutional investors to access DOGE simply and securely.
According to Elaine Buehler, Valour’s Head of Product, the introduction of the first-ever Dogecoin ETP in the Nordic region marks a huge milestone for Valour, which is on a mission to make digital assets accessible to everyone.
Elaine further echoed that the firm is excited to provide a digital product that underpins Dogecoin’s presence in the crypto market. Through the ETP, investors can contribute to Dogecoin’s price movements without owning the coin.
Johanna Belitz, Head of Nordics at Valour, also expressed that Valour’s decision to introduce the Dogecoin ETP was influenced by growing interest in the DOGE memecoin post the US election. Belitz stated, “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.”
Dogecoin’s Market Influence
Dogecoin was launched in 2013 by Jackson Palmer and Billy Markus. Ever since, more individuals and institutions have invested in memecoin, making it a top cryptocurrency. Despite the lack of support for smart contracts, investors use DOGE for micropayments to strengthen their position in the market.
According to CoinMarketCap, Dogecoin’s price is at $0.3928, with a trading volume of $6.92 billion in the last 24 hours. The coin also has a $57.67 Billion market capitalization.
DOGE memecoin has a strong community with key influencers like Elon Musk. This makes Valour’s introduction of the Dogecoin ETP a strategic move that could impact crypto investors in the Nordic region.
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