The price of DOGE remains stable as 21Shares launches the first DOGE ETP in Europe.

21Shares has officially listed the Dogecoin ETP on the SIX Swiss Exchange, with the trading code "DOGE". This event marks a significant step in enhancing the legitimacy and recognition of meme cryptocurrencies. This is also the first Dogecoin ETP backed by the Dogecoin Foundation.

21Shares brings DOGE ETP to the European market

With the name 21Shares Dogecoin ETP (ISIN: CH1431521033), this financial product is backed through an exclusive partnership with House of Doge. Duncan Moir, the President of 21Shares, stated that the listing is not just about launching a financial product:

"Dogecoin is no longer just a cryptocurrency – it represents a cultural and financial movement. Through this exclusive partnership, we are providing investors with the most direct and easiest access to the Dogecoin ecosystem."

This ETP is fully backed by physical assets, providing traditional investors with an institutional-grade access channel to the Dogecoin ecosystem. With a management fee of 2.5%, the product is now officially operational and can be traded through banks as well as brokerage firms across Europe.

DOGE ETP in Europe | Source: 21Shares21Shares proudly has over $7.3 billion in assets under management (AUM) and is listed on over 11 major exchanges. The latest developments are shaping the future of managed cryptocurrency investments. Dogecoin ETP is the company's latest move to bring digital assets into the mainstream.

This move signals an increasingly clear regulatory environment and the demand for investor exposure to memecoins in Europe. Floki DAO has approved similar listings, including Floki ETP. This financial instrument was launched with liquidity funding to target the European market.

This shows that the regulatory environment in Europe has turned this into a fertile ground for altcoin ETPs. It far exceeds the United States, where regulatory hesitance limits innovation beyond Bitcoin and Ethereum.

This move reflects the increasing regulatory investment demand from Europe into non-traditional digital assets. BlackRock, the world's largest asset management company, has recently expanded its Bitcoin ETP in Europe, further confirming this region as a testing ground for cryptocurrency financial products.

Meanwhile, in the United States, Bitwise has pushed for the approval of a Dogecoin ETF. Three months ago, the company filed with the Delaware Trust Company. The company has also refiled an updated application to track and seek approval from the U.S. Securities and Exchange Commission (SEC).

The SEC has not yet given the green light for any ETFs based on Dogecoin in the United States. This puts Europe in a leading position to attract institutional interest in memecoins.

Sarosh Mistry, Director at House of Doge and CEO of Sodexo North America, sees today's ETP launch event as a sign of the maturity of this token.

"The organization's products will empower new types of investors to participate in the Dogecoin ecosystem, reinforcing its role as a leading unit in the future of digital assets."

DOGE price chart 4 hours | Source: TradingviewDespite this news, the price of DOGE has dropped nearly 5% in the last 24 hours. As of the time of writing, DOGE is trading at $0.14.

Disclaimer*: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions*

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Minh Anh

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