Valour, a subsidiary of the Canadian crypto firm DeFi Technologies, unveiled the launch of an exchange-traded product for Dogecoin Tuesday, broadening investors’ access to the multi-billion dollar meme coin in Sweden.
Dubbed the The Valour Dogecoin (DOGE) SEK ETP, the product was billed as investors’ first ever option for “a simple and secure way to gain exposure to DOGE” in the region. The product is now listed on Sweden’s Spotlight Stock Market, the company said in a press release.
“Introducing the first Dogecoin ETP in the Nordics represents a significant milestone in our mission to democratize access to digital assets," Valour’s Head of Product Elaine Buehler said in a statement. “We are excited to provide investors with a regulated product that captures the essence of Dogecoin's dynamic market presence.”
In the U.S., products offering traditional investors exposure to the spot price of digital assets are currently limited to just Bitcoin and Ethereum. But experts recently told Decrypt that, as asset managers angle for Solana and XRP ETFs, Dogecoin could wade into Wall Street’s mix.
While thousands of companies and ETFs are listed on U.S.-based exchanges like the Nasdaq, the Spotlight Stock Exchange has a comparatively small roster. Founded in 1997, according to the firm’s website, it features 125 different stocks alongside 25 exchange-traded products.
Johanna Belitz, Valour’s Head of Nordics, cited a surge in Dogecoin demand following the U.S. presidential election as one of the product's main motivators. Meanwhile, she noted that Dogecoin’s prospects have been bolstered recently by the likes of tech CEO Elon Musk.
As one of Dogecoin’s most popular backers, the billionaire has stoked renewed interest in Dogecoin through President-elect Donald Trump’s proposed Department of Government Efficiency (DOGE), which Musk was recently picked to co-lead.
Valour’s Dogecoin ETP joins its broad set of single-coin products. Among the company’s offerings, investors can access products that offer exposure to Sui (SUI), Toncoin (TON), Uniswap (UNI), and Solana (SOL), among several other altcoins.
Over the past week, Dogecoin has climbed as high as $0.475, hitting a three-year high on Saturday. While the meme coin’s price has increased 169% over the past month, it lagged the overall crypto market Tuesday, falling 6.3% to $0.38.