21Shares has submitted an S-1 registration statement to the SEC for a Dogecoin ETF, aiming to provide investors with direct exposure to DOGE price movements. The House of Doge, the corporate arm of the Dogecoin Foundation, will market the fund to reinforce Dogecoin’s role in mainstream finance. This follows the House of Doge’s recent initiatives, including a 10M DOGE reserve for liquidity and a partnership to advertise Dogecoin at the Indianapolis 500. The filing aligns with broader industry trends, as Grayscale and Bitwise also explore Dogecoin-based investment products. Dogecoin’s price recently rose 3.7% to $0.15, though it remains below its November 2023 peak of $0.475.
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0 in Finance and 3 in Crypto last week
Dogecoin Whales Dump $200M, Price Crash Looms
Dogecoin (DOGE) faces heightened selling pressure as whales dumped 1.32 billion tokens ($190M) in 48 hours, exacerbating its 16% weekly decline. These large holders now control 47% of DOGE’s supply, raising concerns of a prolonged downturn if retail panic ensues. Despite the launch of a physically backed Dogecoin ETP by 21Shares on the SIX Swiss Exchange, the price failed to react positively. Analysts speculate a spot DOGE ETF—potentially coming in 2025 with 64% approval odds—might stabilize the market, but current whale exits suggest further volatility ahead.
read more21Shares Launches Dogecoin ETP on SIX Swiss Exchange
21Shares has introduced a Dogecoin ETP (DOGE) on the SIX Swiss Exchange, offering investors easy exposure to the memecoin through traditional financial channels. The product is fully backed by DOGE tokens and represents a milestone in Dogecoin’s institutional adoption. Developed in collaboration with the House of Doge, this ETP aims to bridge the gap between crypto and mainstream finance while honoring Dogecoin’s community-driven ethos. Dogecoin, initially created as a joke in 2013, has evolved into a widely used cryptocurrency with real-world utility in payments and a strong social community. 21Shares, managing over $7.3 billion in assets, is including a memecoin in its portfolio for the first time, signaling growing institutional acceptance of alternative cryptocurrencies.
read moreDogecoin ETP Launches on SIX Swiss Exchange
21Shares, a leading crypto ETP issuer, has introduced a Dogecoin ETP on Switzerland’s SIX Swiss Exchange, marking the first such product endorsed by the Dogecoin Foundation. The ETP, trading under the ticker DOGE, is 100% physically backed by Dogecoin and offers institutional investors a regulated way to access the meme coin. With a management fee of 2.5%, the product aims to expand Dogecoin’s credibility and adoption. This follows Valour’s recent Dogecoin ETP launch in Sweden, driven by rising demand linked to Elon Musk’s influence. Despite a recent 14.6% monthly decline, Dogecoin remains a top-ten cryptocurrency with a $21.7 billion market cap.
read more21Shares Launches Dogecoin ETP on SIX Swiss Exchange
21Shares has introduced a Dogecoin ETP (DOGE) on the SIX Swiss Exchange, partnering with the House of Doge, an arm of the Dogecoin Foundation. This move aims to boost institutional integration of Dogecoin, a memecoin that has evolved into a widely recognized cryptocurrency with real-world utility. The ETP is physically backed by DOGE tokens, enabling investors to gain exposure through banks and brokers. Dogecoin, initially created as a joke, now boasts fast transactions, low fees, and growing merchant acceptance, including major names like Microsoft and AMC Theatres. The Dogecoin community is known for its social initiatives, further enhancing its appeal. 21Shares, managing over $7.3 billion in assets, sees Dogecoin as both a cultural and financial movement, making crypto more accessible to mainstream audiences.
read moreBlackRock Launches Bitcoin ETP in Switzerland, Eyes Europe
BlackRock, the world’s largest asset manager, is launching a Bitcoin exchange-traded product (ETP) in Switzerland, marking its entry into the European crypto market. The ETP, developed with significant input from BlackRock’s Swiss team, aims to bridge crypto and traditional finance. Switzerland’s regulatory clarity and crypto infrastructure make it an ideal location. The product, listed on Xetra, Euronext Paris, and Amsterdam, targets institutional and retail investors, with a fee waiver until year-end before charging 0.25% annually. BlackRock faces competition from firms like 21Shares and CoinShares but could leverage its brand and institutional ties to gain market share.
read moreRussian Bondholders Await Peace Amid Sanktions and Financial Strain
Investors holding Russian bonds face uncertainty due to the ongoing sanctions, with Russian Railways and VTB Bank struggling to meet their obligations. The Bürgenstock peace conference for the Ukraine conflict excludes Russia, while Swiss private banks criticize the country’s approach to sanctions. Russian bonds on the SIX Swiss Exchange face limited trading and payment issues, reflecting the broader challenges posed by the sanctions.
read moreSwiss Real Estate Funds: Evaluating the Investment Potential Amid Market Shifts
Swiss real estate funds are facing pressure due to rising interest rates, leading to significantly reduced premiums at historically low levels. Despite this, investment strategist Katja Gisler believes that some funds may be overvalued due to underestimation of discount rates. Investors should also consider the risks associated with these funds, including lack of control over management and exposure to market influences.
read moreCAT Financial Products Expands Partnership with SBI Group in Asia
The financial firm has formed a partnership with SBI Digital Markets in Singapore to distribute structured products in Asia and Europe, aiming to leverage local expertise and networks. Despite a challenging market for structured products, the company has seen growth in demand for certain investment solutions, such as capital protection products and credit linked notes. The business year 2024 has started positively, with the launch of new products leading to increased revenues from management and transaction fees.
read moreGalderma IPO Marks Significant Milestone in European Equity Market
Galderma’s IPO on the SIX Swiss Exchange saw shares start trading at 61 Swiss francs, up from the offering price of 53 Swiss francs per share. With an implied placement volume of up to 2.3 billion francs, it is one of the biggest in Europe this year. The IPO, consisting mainly of new shares, will generate gross proceeds of 2 billion francs, which the company plans to use to pay down debt.
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