21Shares, a big name in asset management, teamed up with the House of Doge (the official Dogecoin Foundation business arm) to launch a new Dogecoin ETP (Exchange-Traded Product) in Europe. This makes it the only Dogecoin ETP officially backed by the Dogecoin Foundation. You can find it on the SIX Swiss Exchange under the ticker “DOGE”.
European ETP Launch: A Big Deal for Dogecoin
This partnership is a huge step towards making Dogecoin more accessible to institutional investors. The ETP is 100% backed by real Dogecoin, offering a straightforward way for investors to get in on the action through traditional financial markets.
Eyes on the US: A Dogecoin ETF in the Works
Following the ETP launch, 21Shares also filed paperwork with the SEC (Securities and Exchange Commission) for a Dogecoin spot ETF (Exchange-Traded Fund) in the US. They’re the third company to try this, joining Grayscale and Bitwise. This ETF would also hold actual Dogecoin, giving US institutional investors a chance to invest. The SEC still needs to approve it, though. House of Doge is helping with marketing, and Coinbase will be the custodian.
Dogecoin Price Soars
The price of Dogecoin has been climbing along with other cryptocurrencies. This jump happened after Donald Trump announced a pause on some trade tariffs. The new ETP and the pending ETF filing are also likely contributing to the positive outlook.
Analysts Predict a Bullish Future
Crypto analysts are seeing positive signs. Kevin Capital noted a bullish divergence in the Dogecoin price chart, suggesting a potential price increase. Trader Taridigrade pointed to a “spring of Wyckoff accumulation,” also hinting at a possible upward trend, potentially pushing Dogecoin back towards $0.20.
At the time of writing, Dogecoin is trading around $0.15, a more than 9% increase in the last 24 hours.
