21Shares Endorses Dogecoin Amidst 130,000% Price Appreciation
Swiss asset manager 21Shares has endorsed Dogecoin, highlighting its growth from a meme to a substantial cryptocurrency. Key points include:
- Dogecoin's price increased by over 130,000% in the last decade.
- The coin has shown an annual growth rate of 125%, making it a leading performer among the top 25 cryptocurrencies by market cap.
- User adoption has surged, with wallet addresses expanding from 44 million to 84 million in four years.
Meme Currency Sees Serious Growth
21Shares describes Dogecoin as a movement, emphasizing its cultural significance alongside financial performance.
ETF Filing Marks Major Step For Dogecoin
21Shares filed an S-1 form with the US Securities and Exchange Commission for a Dogecoin ETF. If approved, this would allow investors to gain exposure to Dogecoin without directly owning it. The ETF will be commodity-based, integrating Dogecoin into traditional investment portfolios.
21Shares Announces Partnership With Dogecoin Foundation
21Shares has partnered with the House of Doge, the Dogecoin Foundation's official business entity, enhancing Dogecoin's legitimacy in conventional finance. This partnership aims to attract more traditional investors.
New Exchange-Traded Product Launches With Physical Backing
21Shares has launched an exchange-traded product backed by real Dogecoin at a 1:1 ratio, with a management fee of 0.25%. This model provides reassurance to investors that their holdings are secured by actual cryptocurrency rather than derivatives.