Breaking New Ground: 21Shares and House of Doge Unite for European Dogecoin ETP
In a strategic move to enhance the cryptocurrency landscape in Europe, 21Shares has joined forces with the House of Doge, the official corporate entity of the Dogecoin Foundation, to introduce a pioneering Dogecoin Exchange Traded Product (ETP) on the continent. This innovative asset offering marks a significant step forward, as 21Shares has also recently taken steps to launch a US DOGE ETF, becoming the third firm to do so.
Strategic Alliance: 21Shares and House of Doge Debut Dogecoin ETP
According to a recent press release, 21Shares has announced an exclusive partnership with the House of Doge, aiming to develop the one-of-a-kind Dogecoin ETP, officially backed by the Dogecoin Foundation. This financial product is set to be available on the SIX Swiss Exchange, identifiable under the ticker symbol ‘DOGE.’
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This collaboration represents a monumental achievement in offering institutional-grade access to Dogecoin, acknowledged as one of the most community-centric and recognized cryptocurrencies globally. 21Shares emphasizes that the Dogecoin ETP is entirely physically backed, providing investors with a transparent and effortless method to engage with DOGE through established financial systems.
In parallel, subsequent to unveiling the DOGE ETP, 21Shares has filed an S-1 form with the US Securities and Exchange Commission (SEC) for a spot Dogecoin ETF. This filing positions 21Shares as the third company, alongside Grayscale and Bitwise, to propose such an offering. The ETF, akin to the ETP, will hold DOGE and facilitate institutional investors’ access to the leading meme coin. For the DOGE ETF, 21Shares will submit a 19b-4 form to the US SEC, initiating the approval process. Once again, the organization partners with the House of Doge, which will assist in marketing the fund, with Coinbase serving as the fund’s custodian.
Market Dynamics: DOGE Surges Amid Broader Crypto Recovery
The broader cryptocurrency market’s rebound has mirrored a positive trajectory for Dogecoin, with its price surpassing the $0.15 resistance level. This upward momentum followed the announcement by Donald Trump of a temporary 90-day halt on reciprocal tariffs. The introduction of the 21Shares Dogecoin ETP and the ETF filing have contributed to a positive sentiment surrounding Dogecoin.
On the technical front, renowned crypto analyst Kevin Capital has observed a bullish divergence on the daily chart for DOGE, indicating a potential continuation of this upward trend. Another crypto expert, Trader Tardigrade, predicts an imminent bullish reversal for Dogecoin. In a post, he mentioned that DOGE has experienced a Wyckoff accumulation phase, suggesting that an upward trajectory is likely, potentially reaching the psychological $0.2 mark. As of now, Dogecoin is trading around $0.15, reflecting a rise of over 9% in the last 24 hours, based on CoinMarketCap data.
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