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Grayscale Investments has launched the Grayscale Dogecoin Trust, offering institutional and accredited investors exposure to Dogecoin.
The move follows a surge in institutional interest and increasing demand for Dogecoin ($DOGE) investment products, according to a Grayscale press release.
Dogecoin, initially created as a meme coin, has evolved into a widely adopted digital asset with a market capitalization of $50 billion. Over the past year, its price has tripled, driven by growing investor interest and the expansion of crypto-friendly policies under the Trump administration.
Grayscale believes Dogecoin’s accessibility and low transaction costs make it a viable tool for financial inclusion.
“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary wrote. “We believe, as a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system.”
$DOGE ETF?
Grayscale has taken a similar approach with other cryptocurrency investment products, such as its Ripple ($XRP) trust. In September 2024, the company launched the Grayscale $XRP Trust, providing accredited investors with exposure to $XRP, the token used on the $XRP Ledger.
The $XRP Trust has been available for daily subscriptions to qualified investors and operates similarly to Grayscale’s other single-asset investment trusts, according to a press release from Ripple.
On January 30, Grayscale announced its filings for a spot $XRP exchange-traded fund with the New York Stock Exchange. It remains to be seen whether the firm will pursue a similar strategy for Dogecoin.