Originally published on: November 26, 2024
Valour, a leading crypto fund issuer, has made waves in the market by introducing the very first exchange-traded product (ETP) dedicated to Dogecoin (DOGE), the iconic memecoin. This groundbreaking move was announced by Valour’s parent company, DeFi Technologies, on Nov. 26.
Investors now have the opportunity to trade the Valour DOGE ETP on Sweden’s Spotlight Stock Market, opening up avenues for both retail and institutional players to invest in the world’s most popular memecoin within a regulated fund structure.
Johanna Belitz, Valour’s head of Nordics, highlighted the ETP’s launch in response to the surge in demand for Dogecoin following the recent US presidential election results and noteworthy endorsements from influential figures like Elon Musk.
The cryptocurrency market experienced significant growth post-Donald Trump’s presidential win, leading to an increased interest in digital assets. The rise of memecoins, including Dogecoin, proved to be a dominant force within the crypto industry in 2024.
Dogecoin, initially created as a lighthearted take on Bitcoin back in 2013, now boasts a staggering market capitalization of around $55 billion. Unlike Bitcoin, Dogecoin operates on its proof-of-work (PoW) blockchain network, offering quicker transaction verifications and limitless coin supply.
As the memecoin market continues to thrive, industry leaders like Changpeng Zhao have urged the crypto community to shift its focus towards developing tangible blockchain applications rather than memecoins.
With Valour expanding its ETP offerings, including NEAR Protocol’s native token earlier this year, the crypto fund issuer remains at the forefront of innovative investment opportunities in the evolving digital asset landscape.
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