Crypto Asset Manager 21shares launched the first official Dogecoin etp in partnership with House of Doge.
According to April 9 press releaseThe company, one of the largest exporters in the world for the products circulating in the exchange of encryption, will lead to the emergence of physically supported ETP on the Swiss Stock Exchange under the title “Doge”.
What is Dog ETP?
The product, which was developed exclusively with House of Doge, is the only Dogecoin etp appointed by Dogecoin for every 21 companies.
It will provide institutional investors and retail trading exposure to one of the most famous digital assets and society in encryption.
Duncan Moir, President of 21shares, described the launch as “the most direct and accessible way” for investors to take advantage of the Dogoin ecosystem.
He added: “Dogecoin has become more than just an encrypted currency: it represents a cultural and financial movement that continues to increase the prevailing adoption, and Doge provides investors an organized way to be part of this exciting project.”
21Shares Dogecoin ETP is 100 % physically supported, which means that each unit is guaranteed by actual Dogecoin in cold storage.
It is designed to make investing in a smooth dog like buying traditional stocks, giving investors a familiar path to digital assets without troubles in managing portfolios or special keys.
It was created in 2013 as a light dizziness on bitcoin, and Dogecoin has evolved into widely acceptable encryption assets, known as high -speed transactions, low fees, and an increasing list of cases of use in the real world.
Large companies such as AMC theaters now Accept This is a form of payment, which helped to push Dawig beyond the condition of the M and the prevailing importance.
“ETP can help Dogecoin” reach its full potential “by giving institutions an organized way to join the movement, adding:
This initiative with 21shares provides an organized path for institutions to participate in the “Dogecoin” vision, while the spirit of society still lies.
As of the time of the press, 21shares was not detected when Doge ETP is going.
Although the news did not provoke a new gathering of the meme, it helped reduce some losses last day.
As of the last examination, Dog decreased by 3.6 % a day at $ 0.1466.
DOGE ETFS is acquired
The 21share product has been announced on the stock exchange against the backdrop of many ETF files in the United States.
As of April 9, shares have submitted at least three ETF, Grayscale, BitWise, and Rex, requests to the US Securities and Stock Exchange Committee (SEC) to launch Spot Dogecoin Etfs.
The Grayscale proposal was recognized by SEC in February, which is currently during the review period that may extend to 240 days.
Bitwise, another major investment player in Crypto, presented a 19B-4 file to insert ETF DOGECOIN on NYSE Arca.
Meanwhile, Rex shares are also in this mix with its Dogoin ETF app.
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