Dogecoin

Nexus

Elon Musk

Crypto fund issuer Valour has launched the first exchange-traded product (ETP) for Dogecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/doge-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/doge-price-index">DOGE</a>), the famed memecoin, according to a Nov. 26 announcement from Valour’s parent company, DeFi Technologies.
The ETP will trade on Sweden’s Spotlight Stock Market, enabling retail and institutional investors to gain exposure to the world’s largest memecoin by market cap in a regulated fund wrapper, Valour <a data-ct-non-breakable="null" href="https://www.prnewswire.com/news-releases/defi-technologies-subsidiary-valour-launches-first-dogecoin-doge-etp-in-the-nordics-on-spotlight-stock-market-302316272.html" rel="nofollow noopener" target="_blank" text="null" title="https://www.prnewswire.com/news-releases/defi-technologies-subsidiary-valour-launches-first-dogecoin-doge-etp-in-the-nordics-on-spotlight-stock-market-302316272.html">said</a>.
The asset manager launched Valour DOGE ETP “[i]n light of the recent [United States] presidential election results and the subsequent surge in demand for Dogecoin […] bolstered by influential figures like Elon Musk,” Johanna Belitz, Valour’s head of Nordics, said in a statement.
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 <img alt="Valour launches first-ever DOGE ETP" src="https://s3.cointelegraph.com/uploads/2024-11/019369e0-9cc2-7443-8196-96cb8d85e25d" title="">
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 Source: Dogecoin
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<h1 id="em-strong-related-strong-em-a-data-ct-non-breakable-null-href-https-cointelegraph-com-news-qed-nexus-bring-smart-contracts-dogecoin-rel-target-_self-text-null-title-https-cointelegraph-com-news-qed-nexus-bring-smart-contracts-dogecoin-em-strong-qed-nexus-aim-to-bring-smart-contracts-to-dogecoin-strong-em-a-br">Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/qed-nexus-bring-smart-contracts-dogecoin" rel="" target="_self" text="null" title="https://cointelegraph.com/news/qed-nexus-bring-smart-contracts-dogecoin">QED, Nexus aim to bring smart contracts to Dogecoin</a> </h1>
The crypto market surged following Donald Trump’s victory in the US presidential election, as many believe his win will benefit the industry,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/the-influence-of-the-2024-us-elections-on-the-crypto-market-report" rel="null" target="null" text="null" title="https://cointelegraph.com/news/the-influence-of-the-2024-us-elections-on-the-crypto-market-report">Cointelegraph Research said</a>.
Meanwhile, the memecoin market <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/meme-coins-play-important-role-in-crypto" rel="null" target="null" text="null" title="https://cointelegraph.com/news/meme-coins-play-important-role-in-crypto">became one of the fastest-growing sectors</a> in the crypto space in 2024.
Memecoin platform Pump.fun <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-is-pumpfun-a-guide-to-solanas-memecoin-generator" rel="null" target="null" text="null" title="null">is one of this year’s runaway success stories</a>, playing a major role in the ascent of the Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/solana-price-index">SOL</a>) blockchain network.
Initially launched in 2013 as a satirical commentary on BTC, DOGE now commands a total market capitalization of some $55 billion, <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/dogecoin/" rel="nofollow noopener" target="_blank" text="null" title="https://coinmarketcap.com/currencies/dogecoin/">according</a> to CoinMarketCap. 
Dogecoin operates on its own proof-of-work (PoW) blockchain network similar to Bitcoin’s but with less computationally intensive transaction verifications and no upper limit on total Dogecoin supply. Dogecoin does not support smart contracts.
It is widely considered the first memecoin but is also used for micropayments and tipping.
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 <img alt="Valour launches first-ever DOGE ETP" src="https://s3.cointelegraph.com/uploads/2024-11/019369e9-9dee-7e7c-a812-795dbc37fa01" title="">
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 Source: <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/dogecoin/" rel="nofollow noopener" target="_blank" text="null" title="https://coinmarketcap.com/currencies/dogecoin/">CoinMarketCap</a>
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On Nov. 15, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/dogecoin-investor-lawsuit-against-elon-musk-dropped" rel="" target="_self" text="null" title="https://cointelegraph.com/news/dogecoin-investor-lawsuit-against-elon-musk-dropped">plaintiffs withdrew</a> a 2022 class-action lawsuit filed against Elon Musk and Tesla alleging that the businessman manipulated the price of DOGE through media appearances and social media posts.
On Nov. 26, the former CEO of Binance, Changpeng “CZ” Zhao, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/changpeng-zhao-criticizes-memecoins-calls-for-real-blockchain-apps" rel="" target="_self" text="null" title="https://cointelegraph.com/news/changpeng-zhao-criticizes-memecoins-calls-for-real-blockchain-apps">urged the crypto community </a>to shift its focus away from memecoins and into building “real” blockchain applications.
Valour’s parent company, DeFi Technologies, manages approximately $600 million in assets across a variety of crypto-native strategies. 
On July 17, Valour launched an ETP for Near Protocol’s native token, NEAR (<a data-ct-non-breakable="null" href="https://cointelegraph.com/near-protocol-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/near-protocol-price-index">NEAR</a>). It also trades on Sweden’s Spotlight Stock Market
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/based-rollups-make-ethereum-feel-ethereum-again/" rel="null" target="null" text="null" title="null">Make Ethereum feel like Ethereum again: Based rollups explained</a>

Valour launches first-ever DOGE ETP

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Cointelegraph

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