Asset manager 21Shares has partnered with the House of Doge, the corporate arm of the Dogecoin foundation, to launch a Dogecoin ETP in Europe. The asset manager also just filed to offer a US DOGE ETF, becoming the third firm to do so.
21Shares Partners With House Of Doge To Launch Dogecoin ETP
In a press release, 21Shares announced that it has formed an exclusive partnership with the House of Doge to create the only Dogecoin ETP endorsed by the Dogecoin Foundation. The asset manager revealed that the ETP will be listed on the SIX Swiss Exchange under the ticker ‘DOGE.’
The firm stated that this collaboration marks a major milestone in bringing institutional-grade exposure to DOGE, one of the “most community-driven and widely recognized” cryptocurrencies. 21Shares also remarked that the Dogecoin ETP is 100% physically backed and offers a “transparent and seamless” way for investors to gain exposure to DOGE through traditional financial channels.
Meanwhile, following the announcement of the DOGE ETP launch, 21Shares also filed an S-1 form for a spot Dogecoin ETF with the US Securities and Exchange Commission (SEC). The asset manager has become the third firm to file to offer a DOGE ETF, following Grayscale and Bitwise.
Similar to its DOGE ETP, the ETF will hold DOGE and provide institutional investors with exposure to the foremost meme coin. 21Shares will still need to file the 19b-4 for its Dogecoin ETF with the US SEC to formally kickstart the process, in which the Commission will have to approve or deny the application.
21Shares has again partnered with House of Doge for this proposed DOGE ETF. The latter will help market the fund, while Coinbase will be the fund’s custodian.
DOGE Rebounds With Broader Crypto Market
The DOGE price has rebounded with the broader crypto market, breaking above the $0.15 resistance. This rebound occurred following Donald Trump’s announcement of a 90-day pause on reciprocal tariffs. The launch of 21Shares Dogecoin ETP and the Dogecoin ETF filing undoubtedly also provide a bullish outlook for the foremost meme coin.
From a technical perspective, crypto analyst Kevin Capital revealed that the DOGE price has formed a bullish divergence on the daily timeframe, which could further spark this bullish reversal for the meme coin.
Crypto analyst Trader Taridigrade also predicts a bullish reversal for the Dogecoin price. In an X post, he revealed that the meme coin has undergone a spring of Wyckoff accumulation, which suggests that an upward trend could soon begin for DOGE. His accompanying chart showed that the meme coin could reclaim the psychological $0.2 price level in the process.
At the time of writing, the DOGE price is trading at around $0.15, up over 9% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
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