Grayscale launches Dogecoin investment fund
Grayscale Investments has launched an investment fund for Dogecoin ( DOGE ), the most popular memecoin by market cap, the asset manager said on Jan. 31.
Grayscale Dogecoin Trust offers investors exposure to “the native coin of the Dogecoin network, an open-source peer-to-peer digital currency originally derived from Litecoin, which itself originated from Bitcoin,” Grayscale said . The trust is only available to institutional investors.
Dogecoin operates on a proof-of-work (PoW) blockchain network similar to Bitcoin’s but with less computationally intensive transaction verifications and no upper limit on the total DOGE supply.
“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said in a statement.
Dogecoin’s famous Shiba Inu meme. Source: Dogecoin.com
Related: Grayscale launches Bitcoin Miners ETF to offer BTC mining exposure
Memecoin frenzy
The new fund comes amid a frenzy of interest in memecoins, including among traditional asset managers.
On Jan. 18, US President Donald Trump’s advisory team launched the Official Trump (TRUMP) memecoin on the Solana network ahead of Trump’s presidential inauguration.
The TRUMP launch sparked a frenzy among investors, bringing so much activity to Solana that the network suffered bouts of congestion for days.
On Jan. 21, asset managers Osprey Funds and REX Shares filed to launch exchange-traded funds (ETFs) for memecoins including DOGE, TRUMP and Bonk ( BONK ).
Grayscale’s single-asset crypto products. Source: Grayscale
Expanding the suite of crypto funds
For Grayscale, the new DOGE fund adds to its suite of single-asset crypto investment products.
In December, Grayscale launched two new investment funds for Lido and Optimism’s governance tokens — LDO ( LDO ) and OP ( OP) , respectively.
In October, it launched an investment fund for Aave’s governance token , AAVE ( AAVE) . It also added around 35 altcoins — including Worldcoin ( WLD ), Pyth ( PYTH ) and Rune ( RUNE ) — to a list of assets that are “under consideration” for future investment products.
In August, Grayscale launched three trusts to invest in the native protocol tokens of Sky (previously MakerDAO), Bittensor and Sui.
Grayscale is the world’s largest crypto fund manager by assets under management, with nearly $35 billion in AUM as of December.
It is best known for its Bitcoin ( BTC ) and Ether ( ETH ) exchange-traded funds, including the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
Magazine: Influencers shilling memecoin scams face severe legal consequences
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns
The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics
BTC Short Position by ETH Whale Nears $332M
A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed

Pakistan Launches Crypto Council Led by Finance Minister
Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion

Trump Crypto Project WLFI Buys AVAX, MNT for $4M
Trump-linked crypto project WLFI buys $4M worth of AVAX and MNT, total investment hits $340M with $115M in unrealized losses.WLFI Adds AVAX and MNT to Crypto Portfolio$340M Invested Across 11 TokensHeavy Losses Despite Market Activity

Trending news
MoreCrypto prices
More








