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21Shares launched a new volatility play for crypto traders on Nov 20. The 2x Long Dogecoin ETF (NASDAQ:TXXD) is positioned as a high-octane way to tap into Dogecoin’s (CRYPTO: DOGE) daily moves sans the complexity of spot markets.
The fund carries a 1.89% fee and is designed to deliver twice the daily performance of Dogecoin before fees, offering investors looking for amplified exposure within a regular brokerage account a leveraged option. Industry observers say the structure is intended to mirror the rapid-fire trading strategies that have already become common in the equities market.
The launch comes after 21Shares was acquired by FalconX in a deal that industry watchers said strengthened the firm’s distribution muscle ahead of its latest leveraged entry.
The move also leans on 21Shares’ partnership with House of Doge, the corporate arm of the Dogecoin Foundation. Their collaboration has been framed as one to bridge meme-asset enthusiasm with institutional-grade infrastructure. Earlier this year, the issuer launched what was described as the only Dogecoin ETP in Europe officially backed by the Foundation.
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There has been an uptick in real-world usage of Dogecoin, with brands such as Tesla and AMC Entertainment accepting the token for payments. According to market participants, the strong community culture, especially its “Do Only Good Everyday” mantra, helped in sustaining its relevance well beyond that of an internet meme.
The ETF aims to simplify access to this expanding ecosystem. They also said that Dogecoin’s long-running community engagement, charitable initiatives, and growing merchant acceptance have reinforced the case for more formal investment products.
Like all leveraged ETFs, TXXD is designed for short-term traders who understand high-volatility products. It is important to note that performance will sharply diverge over multi-day periods due to daily compounding.
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