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21Shares Launches Dogecoin ETF on Nasdaq Backed by Dogecoin Foundation
21Shares has launched the first spot Dogecoin ETF, TDOG, on Nasdaq, backed by the Dogecoin Foundation. This ETF offers regulated, physically-backed access to Dogecoin for investors.
Key Details
- TDOG is endorsed by the Dogecoin Foundation and provides direct exposure to DOGE in traditional portfolios.
- The ETF holds DOGE on a 1:1 basis in institutional-grade custody.
- This product aims to capitalize on Dogecoin’s role in internet culture and its increasing adoption in the digital economy.
- Federico Brokate, 21Shares's Global Head of Business Development, emphasized DOGE's unique asset status and expanding use cases.
DOGE Market Analysis
- Analysts suggest potential for a significant rally based on past performance cycles.
- DOGE has been consolidating between $0.125-$0.280 for nearly a year, indicating a possible breakout to $0.750.
- Currently trading at $0.1249, marking a 1.75% daily decline.
