21Shares has teamed up with the Condominium of Doge to launch the first Dogecoin ETP, backed by the Dogecoin Foundation, on SIX Swiss Substitute.
Crypto commerce-traded products platform 21Shares has announced a partnership with the Condominium of Doge to launch the first Dogecoin ETP (DOGE) counseled by the Dogecoin Foundation. In a press release on Wednesday, 21Shares talked about that the bodily-backed product will possible be listed on SIX Swiss Substitute below the ticker DOGE.
21Shares president Duncan Moir says the product provides merchants with the “most say and accessible components to assassinate publicity to the Dogecoin ecosystem,” at the side of that DOGE has change into “better than a cryptocurrency” as it represents a “cultural and monetary movement that continues to force mainstream adoption.”
“Dogecoin turned into once created to be a enjoyable, accessible form of ogle-to-ogle cash, and over time, it has demonstrated true-world utility in payments, tipping, and charitable giving. For Dogecoin to succeed in its plump skill as a world currency, institutional pork up and company partnerships are important.”
Jens Wiechers, advisory board member at Condominium of Doge
The product launch follows the U.S. Securities and Substitute Fee’s acknowledgment in February of a Dogecoin ETF submission from NYSE Arca, which is now dwelling to search out out referring to the product. The ETF would note DOGE’s fee via CoinDesk’s DCX index, with authorized participants handling cash as a change of DOGE without extend.
