The Valour Dogecoin (DOGE) SEK ETP is touted as the first of its kind in the Nordic region, offering investors a straightforward and secure avenue to gain exposure to the popular meme-based cryptocurrency.

“Introducing the first Dogecoin ETP in the Nordics represents a significant milestone in our mission to democratize access to digital assets,” said Elaine Buehler, Head of Product at Valour. “We are excited to provide investors with a regulated product that captures the essence of Dogecoin’s dynamic market presence.”

Dogecoin, originally created as a joke in 2013, has grown to become the seventh-largest digital asset, boasting a market capitalization of approximately $59.5 billion. Its surge in popularity is largely attributed to a vibrant community and high-profile endorsements, most notably from Tesla CEO Elon Musk. Musk’s tweets and public statements have frequently influenced Dogecoin’s price movements, contributing to its widespread adoption.

Earlier this year, investors filed a lawsuit alleging that Musk used his social media platform X (formerly Twitter) and a 2021 appearance on NBC’s “Saturday Night Live” to boost Dogecoin’s price by more than 36,000% over two years before its eventual decline. The case was dismissed by U.S. District Judge Alvin Hellerstein.

The Valour Dogecoin ETP comes with a management fee of 1.9%, positioning itself as a competitive option for investors. “The growing popularity of Dogecoin, bolstered by influential figures like Elon Musk, highlights our commitment to delivering innovative and diversified investment opportunities in the Nordics,” said Johanna Belitz, Valour’s Head of Nordics. “In light of the recent U.S. presidential election results and the subsequent surge in demand for Dogecoin, the launch aligns with our mission to provide timely access to high-demand digital assets.”

Valour’s offering adds to its portfolio of single-coin ETPs, which includes products providing exposure to cryptocurrencies such as Solana (SOL), Uniswap (UNI), and Toncoin (TON). The company’s focus on accessibility, humor, and utility underscores its approach to embracing the unique characteristics that have driven Dogecoin’s popularity.

In the United States, investment products offering exposure to cryptocurrencies are currently limited to Bitcoin and Ethereum. However, industry analysts suggest that asset managers may soon expand their offerings to include other digital assets like Dogecoin, as interest grows and regulatory frameworks evolve.

Dogecoin’s price has experienced significant volatility in recent weeks. Over the past month, it has surged by 169%, reaching a three-year high of $0.475 on Saturday. Despite this growth, the cryptocurrency lagged the overall market on Tuesday, falling 6.3% to $0.38.

The launch of the Dogecoin ETP on the Spotlight Stock Market represents a notable development for the relatively small exchange, which was founded in 1997 and lists around 125 stocks and 25 exchange-traded products. Valour’s initiative reflects a broader trend of increasing institutional interest in cryptocurrency investment vehicles across Europe.

“We are proud to announce the first Dogecoin ETP in the Nordics, marking a significant milestone in our mission to democratize access to digital assets,” added Buehler. “We are thrilled to offer a regulated product to investors that embodies Dogecoin’s vibrant market presence.”