In a latest development, Grayscale Investments, a leading crypto asset management firm announced the creation and launch of Grayscale Dogecoin Trust.
Notably, the Trust offers investors the opportunity to gain exposure to DOGE. Grayscale believes that DOGE has transitioned from a memecoin of a Shiba Inu to a tool for global financial inclusion, grassroots activism, and a viable means of payment. “Due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has garnered significant adoption worldwide,” it noted.
Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary emphasized that Dogecoin has become a powerful tool for improving financial accessibility. He noted that as a faster, cheaper, and more scalable version of Bitcoin, it helps underserved groups engage with the financial system.
“Grayscale Dogecoin Trust offers investors exposure to an asset that is positioned to help fulfill Bitcoin’s originally intended use case and its egalitarian ethos.”
The Trust is now open for daily subscriptions by eligible individual and institutional accredited investors. It works like Grayscale’s other single-asset investment trusts and is entirely invested in the Dogecoin token. Besides, Bitwise recently filed an application with the US SEC for a DOGE-based ETF.
Grayscale Pushes for XRP ETF
Notably, Grayscale is also working to list a spot XRP exchange-traded fund (ETF) on U.S. stock exchanges. Recently, the firm filed with the SEC to convert its XRP Trust into an ETF. The launch of this trust comes shortly after U.S. President Donald Trump took office, where he promised to support the cryptocurrency industry and created a new organization called “D.O.G.E.”
Since Donald Trump’s election win, several fund managers have applied for Dogecoin ETFs, a step that seemed unlikely under the previous administration. With a market cap nearing $50 billion, DOGE remains the largest memecoin, and products like trusts and ETFs could attract more investment.
