Following the approval of Bitcoin and Ethereum ETFs in the US, spot ETF applications have been made for many altcoins such as XRP, Solana, and Dogecoin.
While most are under review by the SEC, digital asset management firm 21Shares made a significant move for DOGE.
21Shares announced the launch of the Dogecoin ETP supported by the DOGE foundation (DOGE).
21 Shares’ Dogecoin ETP will be listed on the Swiss stock exchange SIX, and the DOGE ETP will be the first and only Dogecoin ETP supported by the Dogecoin Foundation.
21 Shares’ ETP aims to provide institutional access to Dogecoin, a meme coin that was born as a joke in 2013.
Duncan Moir, President of 21Shares, said:
"With this exclusive partnership with the Dogecoin Foundation, we provide investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem.
Dogecoin has become more than just a cryptocurrency: it represents a cultural and financial movement that continues to maintain mainstream adoption and offers DOGE investors a structured way to be part of this exciting project.
Moir stated that the ETP is 100% physically backed, with each unit backed by real DOGE assets and a management fee of 2.5%.
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