21Shares Launches First Dogecoin ETP on SIX Swiss Exchange
Leading asset manager 21Shares announced on April 9 that it’s partnering with the House of Doge to launch Europe’s first Dogecoin ETP. The House of Doge is the corporate division of the Dogecoin Foundation. The Dogecoin ETP will trade on the SIX Swiss Exchange under the ticker DOGE, making the cryptocurrency more accessible to traditional EU investors.
European Move Signals Strategic Push Towards Crypto Accessibility
According to a press release, the 21Shares Dogecoin ETP is 100% physically backed, giving investors a secure and transparent way to access Dogecoin through traditional markets. The Dogecoin ETP carries a standard management fee of 2.50%, covering storage, insurance, and administrative costs associated with holding the digital asset.
Duncan Moir, President of 21Shares, said the partnership opens the most direct path for investors seeking exposure to Dogecoin and its ecosystem. He further explained that Dogecoin is more than a meme asset, functioning as a cultural symbol and driving wider crypto adoption among diverse investor groups. Last November, the firm filed for the U.S. Securities Exchange Commission (SEC) approval of its XRP ETF, the 21Shares Core XRP Trust.
More recently, 21Shares submitted an updated registration for a Polkadot ETF and applied for Solana-tracking ETFs, adding to its existing Bitcoin and Ethereum offerings.
U.S. Weighs Dogecoin ETF Proposal as Global Momentum Builds
Interest in a U.S.-based Dogecoin ETF is heating up alongside the launch of the Dogecoin ETP in Europe. In February, the SEC acknowledged a Dogecoin ETF filing from NYSE Arca, an important step in the regulatory process toward potential approval. Several firms have also joined the race. For example, Rex Osprey and Bitwise have submitted their applications and more firms are expected to follow suit as the regulatory path becomes clearer.
The SEC must deliver a verdict within 200 days, creating a specific timeline for approval. As the timeline draws near, optimism is growing among investors and analysts, with the decentralized prediction platform Polymarket currently showing a 65% probability of approval. This rising confidence follows directly from the SEC’s approval of several spot Bitcoin ETFs in 2024. Despite growing demand, the SEC historically approaches meme coin-related products with increased caution.
Technical Outlook: Can Dogecoin Break $0.30 Amid Rising Market Interest?
Dogecoin now trades at $0.1448 per token. This shows a 16.34% drop over the past week. The current price falls well below its all-time high of $0.7376 from May 8, 2021, clearly demonstrating the extreme price swings that often characterize cryptocurrency markets and challenge traditional valuation models. DOGE also lacks strong technical support for price growth. The RSI reads just 34.30. These neutral momentum readings reveal neither excessive buying nor selling pressure. Consequently, this suggests a period of consolidation or uncertainty before the next major price movement occurs. Meanwhile, the price sits below its 50-day average of $0.1921. Overall, Dogecoin is displaying bearish patterns. Specifically, the 50-day EMA helps traders gauge short-term trends, and DOGE’s position well below this important technical indicator confirms ongoing selling pressure that has persisted throughout recent trading sessions. Nonetheless, external factors might still push prices higher despite technical weakness. News drives crypto prices. Specifically, the growing market interest in Dogecoin-related products, such as the Dogecoin ETP, and the potential approval of a U.S. Dogecoin ETF could provide a substantial boost. If the Dogecoin ETF receives approval, this could lead to an influx of institutional investment, which may increase demand for the asset. Such a development could trigger a short-term rally, propelling DOGE to higher levels. However, it is still unclear whether this surge would be sustainable or if it would fizzle out after an initial price spike.