Valour Launches First-Ever Dogecoin ETP on Sweden’s Spotlight Market

Crypto fund issuer Valour, a subsidiary of DeFi Technologies, has launched the first-ever exchange-traded product (ETP) for Dogecoin (DOGE), the popular memecoin. The new ETP, announced on November 26, will be available for trading on Sweden’s Spotlight Stock Market, allowing both retail and institutional investors to gain regulated exposure to Dogecoin, the largest memecoin by market capitalization.

A Response to Growing Demand for Memecoins

Valour introduced the DOGE ETP in response to a surge in demand for Dogecoin, especially following the results of the 2024 U.S. presidential election. According to Johanna Belitz, Valour's head of Nordics, the increasing interest in Dogecoin has been fueled by prominent figures like Elon Musk, who has played a significant role in the memecoin’s popularity.

The broader crypto market also saw a rise in activity following Donald Trump’s victory, as many believe his administration could benefit the cryptocurrency industry. Additionally, the memecoin sector has emerged as one of the fastest-growing areas in crypto, with platforms like Pump.fun contributing to the rise of the Solana blockchain.

Dogecoin’s Growth and Unique Features

Initially launched in 2013 as a satirical commentary on Bitcoin, Dogecoin has since evolved into a widely recognized cryptocurrency. Today, it boasts a market cap of around $55 billion, making it the largest memecoin. Dogecoin operates on its own proof-of-work (PoW) blockchain, similar to Bitcoin, but with less computationally intensive transaction verifications. Notably, Dogecoin has no upper limit on its total supply and does not support smart contracts, distinguishing it from other major cryptocurrencies.

While originally created as a joke, Dogecoin has found real-world use, particularly in micropayments and tipping.

Legal Developments and Industry Commentary

In a recent legal development, plaintiffs withdrew a class-action lawsuit against Elon Musk and Tesla, which had accused the entrepreneur of manipulating the price of Dogecoin through his public statements and social media activity.

Meanwhile, Changpeng "CZ" Zhao, the former CEO of Binance, recently advised the crypto community to shift its focus away from memecoins and toward building practical, real-world blockchain applications.

Valour’s Crypto Strategies and Asset Management

Valour’s parent company, DeFi Technologies, manages approximately $600 million in assets across various crypto-native strategies. This latest Dogecoin ETP adds to Valour’s growing portfolio of digital asset products, which also includes an ETP for Near Protocol’s native token, NEAR, launched earlier this year. Both ETPs are traded on Sweden’s Spotlight Stock Market, offering investors more opportunities to engage with the cryptocurrency market in a regulated environment.