Just In: Grayscale Opens DOGE to Investors with New DogeCoin Trust

Grayscale Investments has just launched the Grayscale Dogecoin Trust, opening up a new way for investors to get involved with DOGE. It’s come so far from just being a meme!

With its growing influence, Dogecoin is stepping into a new role as a tool for financial inclusion and global payments. Curious about how this new trust works and why Grayscale is betting big on DOGE?

Keep reading.

DOGE: A Powerful Financial Tool!

Grayscale’s Dogecoin Trust comes at a time when Dogecoin is no longer just a meme coin. It’s gaining recognition as a legitimate financial tool. Grayscale points out how DOGE has transformed from a Shiba Inu meme into a key player in financial inclusion, activism, and even payments. The company states,

“Due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has garnered significant adoption worldwide,” it noted. 

Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, highlighted Dogecoin’s potential to improve financial access. She explained that DOGE, as a faster and cheaper alternative to Bitcoin, helps underserved communities 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.”

How the Trust Works

The Grayscale Dogecoin Trust works just like Grayscale’s other single-asset investment trusts, and it is fully invested in Dogecoin. Eligible individual and institutional accredited investors can now subscribe daily to the trust, adding DOGE to their investment portfolios.

This launch comes as part of a wider trend in crypto-focused ETFs, with Bitwise recently filing for a DOGE-based ETF with the U.S. SEC.

Grayscale’s Growing Crypto Portfolio: What’s Next?

Grayscale is not stopping at Dogecoin. The company is also working on launching a spot XRP exchange-traded fund (ETF) on U.S. stock exchanges. Grayscale recently filed with the SEC to convert its XRP Trust into an ETF.

Grayscale’s Dogecoin Trust launch aligns with the shift in U.S. policy under President Donald Trump, who has expressed strong support for the cryptocurrency industry. Trump’s administration has helped pave the way for crypto innovations like the creation of the “D.O.G.E.” organization.

Since Trump’s election, several fund managers have applied for Dogecoin ETFs, a move that seemed unlikely under the previous administration.

Products like trusts and ETFs could help bring in even more investment, strengthening DOGE’s place in the crypto market.