21Shares Partners House of Doge for Dogecoin ETP Launch in Europe

Asset manager 21Shares has announced a significant partnership with the House of Doge, the corporate arm of the Dogecoin Foundation, to launch a Dogecoin Exchange Traded Product (ETP) in Europe. This ETP will be listed on the SIX Swiss Exchange under the ticker ‘DOGE.’ The collaboration is notable as it marks a major milestone in providing institutional-grade exposure to Dogecoin, one of the most community-driven and widely recognized cryptocurrencies. The Dogecoin ETP is 100% physically backed, offering a transparent and seamless way for investors to gain exposure to Dogecoin through traditional financial channels.

In addition to the ETP launch, 21Shares has also filed an S-1 form with the US Securities and Exchange Commission (SEC) for a spot Dogecoin Exchange Traded Fund (ETF). This filing makes 21Shares the third firm to propose a Dogecoin ETF, following Grayscale and Bitwise. The ETF, similar to the ETP, will hold Dogecoin and provide institutional investors with exposure to the meme coin. However, 21Shares will need to file the 19b-4 form with the US SEC to formally initiate the approval process, where the Commission will decide on the application.

For the proposed Dogecoin ETF, 21Shares has again partnered with the House of Doge, which will assist in marketing the fund. Coinbase will serve as the fund’s custodian. This strategic alliance underscores the growing institutional interest in Dogecoin and the broader cryptocurrency market. The launch of the Dogecoin ETP and the filing for a Dogecoin ETF are expected to provide a bullish outlook for the meme coin, potentially sparking further interest and investment in Dogecoin.