Dogecoin gains ground in Nordics with first-ever ETP introduction Crypto 1 day ago

DeFi Technologies, a publicly traded Canadian firm, has announced the launch of its subsidiary Valour Inc.’s new product—the Valour Dogecoin (DOGE) ETP—on the Sweden-based Spotlight Stock Market, according to a Nov. 26 statement.This marks the first Dogecoin ETP in the Nordics, giving investors a secure and simplified way to gain exposure to the popular digital asset.The Valour Dogecoin (DOGE) SEK ETP is designed to eliminate the complexities of directly owning digital assets. The fund charges a management fee of 1.9% while providing a cost-effective and streamlined way for investors to participate in the growing crypto market.Johanna Belitz, Head of Nordics at Valour, highlighted the launch’s importance, stating that the increasing demand for Dogecoin aligns with the company’s mission to provide timely access to high-demand digital assets. She added:“The growing popularity of Dogecoin, bolstered by influential figures like Elon Musk, highlights our commitment to delivering innovative and diversified investment opportunities in the Nordics.”Meanwhile, the Dogecoin ETP reflects a more significant trend of institutional interest in making digital assets more accessible to investors. Since the introduction of Bitcoin and Ethereum ETFs in the US, traditional financial institutions have diversified their offerings to include assets like Solana and XRP.Additionally, Dogecoin has gained traction among institutions, exemplified by Spirit Blockchain Capital’s acquisition of Dogecoin Holdings. This move indicates plans to develop new financial products to expand the meme coin’s utility and adoption.This launch coincides with heightened activity in the crypto market.Dogecoin recently surged to a three-year high, buoyed by Bitcoin’s rally near the $100,000 mark. However, according to CryptoSlate’s data, DOGE has retraced by 11% to $0.3731 as of press time.Despite this dip, Dogecoin remains a focal point in the crypto ecosystem due to its unique cultural significance and consistent promotion by influential supporters like tech billionaire Elon Musk.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change. Follow us on X for your essential dose of daily crypto news and deep dives.CoinShares reports minor outflows in cryptocurrency funds overshadowed by persistent high trading volumes and equity investments.In a $2.25 million deal, HIVE integrates EU-backed Boden data center to enhance its green mining infrastructure.The six-consecutive-week outflows totaled $408 million, as this week’s inflows mark the largest positive movement since July 2022.Sweden cares a great deal about privacy and considers it an an extremely important question when “talking about all types of digital monies.”As DOGE shows absolute correlation with Bitcoin, Ethereum strays further to a three-year low.Meanwhile, tokens related to AI, social, and data availability narratives registered negative performances in the period.Investors dropped the $258 billion Dogecoin lawsuit against Elon Musk without appealing after court finds no evidence of fraud.SOL and ADA are back on Robinhood’s offerings after more than a year since they were delisted over regulatory concerns.CryptoSlate’s latest report dives deep into Polymarket’s evolution, its pivotal role in high-stakes prediction events like US elections, and the implications of its controversies on its market position.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.