DeFi Technologies’ Valour launches the first Dogecoin ETP on Sweden’s Spotlight Exchange. DOGE Coin recently hit a three-year high amid broader crypto market activity. Meanwhile, recent data shows that DOGE is increasingly being adopted, especially among retail investors.
Valour launches ETP for DOGE Coin!
Valour, the crypto asset investment subsidiary of DeFi Technologies, has made a strategic move for Dogecoin (DOGE Coin). In this context, Valour announced the launch of an exchange-traded product (ETP) for the meme coin. This fund will be the first of its kind in the Nordic countries. In addition, the fund comes at a time of increased interest in Dogecoin with the support of Elon Musk. Johanna Belitz, President of Valour Scandinavia, made the following statement regarding the development:
In light of the recent US presidential election results and the subsequent surge in demand for Dogecoin, the launch of the Valour Dogecoin ETP on the Spotlight Exchange is in line with our mission to provide investors with timely access to digital assets in high demand. The growing popularity of Dogecoin, backed by influential figures such as Elon Musk, underscores our commitment to providing innovative and diversified investment opportunities.
DOGE ETP follows BTC, ETH, UNI, ADA and DOT!
With the new product, Valour aims to enable investors to invest in Dogecoin without the complexities directly associated with crypto ownership. The Valour DOGE Coin ETP was listed on Sweden’s Spotlight Exchange. The fund also has a management fee of 1.9%. Valour’s portfolio includes a wide range of crypto assets such as Bitcoin, Ethereum, Uniswap (UNI), Cardano (ADA) and Polkadot (DOT). The firm aims to continue expanding access to various digital assets.
As you have been following on Kriptokoin.com, Tesla’s CEO has become an important figure in the Dogecoin ecosystem. Elon Musk has often used his social media presence to influence the popularity of DOGE. Following Donald Trump’s recent presidential election victory, DOGE Coin saw a massive surge in value, reaching a three-year high amid market optimism. The rally stems from Trump’s stance on crypto and Musk’s creation of the “Department of Government Efficiency” or DOGE.
Is DOGE’s modest rebound behind adoption?
Dogecoin (DOGE) is gaining more and more acceptance, especially among individual investors. The surge in activity suggests that these investors are exhibiting Fear of Missing Out (FOMO). Despite declining market momentum in the broader crypto space, this development points to hope for a recovery. Altcoin analysts Kate The Alt shared charts to show increased individual activity among traders. These individual traders are rushing to buy DOGE Coin, possibly due to the increase in price momentum.
Kate The Alt also highlighted the increased activity in Dogecoin trades. In particular, the number of Dogecoin transactions on all exchanges reached an all-time high (ATH). This does not refer to the trading volume, but to the number of transactions carried out, regardless of their size. This suggests that more participants are actively trading the coin due to FOMO. Moreover, the increased trading activity is likely to support the positive price action in the market.
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