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- Grayscale introduced the Dogecoin Trust, positioning DOGE as more than a meme coin by offering institutional exposure to its investment potential.
- Bitwise filed for a Dogecoin ETF with the SEC, potentially opening the door for broader institutional adoption and easier retail access to DOGE.
Grayscale has announced the launch of the Grayscale Dogecoin Trust, which strengthens DOGE’s standing in the cryptocurrency investment sector. This choice not only shows that Dogecoin is more than just a memecoin but also offers a tool for global financial inclusion. But what exactly does the beginning of this trust imply? How does it affect the crypto market generally as well as Dogecoin?
We are proud to announce a new single-asset crypto investment fund, Grayscale Dogecoin Trust $DOGE.
much wow, big excite
Available to eligible accredited investors.
Read the press release: https://t.co/tV5TC8uoHV pic.twitter.com/cqqJxVRkIC
— Grayscale (@Grayscale) January 31, 2025
Is Dogecoin No Longer Just a Meme?
Dogecoin has long been known as a cryptocurrency created as a joke. That view is beginning to shift, though, as institutional investors’ acceptance and backing grow. The Grayscale Dogecoin Trust is helping DOGE to become known as a value for thought in an investing portfolio.
This confidence lets investors gain exposure to DOGE without personally purchasing or storing it themselves. For people who wish to invest in Dogecoin but don’t have to deal with crypto wallets and other security concerns, this could be a safer approach.
Dogecoin ETFs Are Also Starting to be Noticed
Grayscale is not the only one who sees great potential in Dogecoin. Bitwise, a crypto asset manager, had before proposed a Dogecoin spot ETF to the US Securities and Exchange Commission (SEC). Should this ETF be approved, DOGE would become more easily available to both institutional and individual investors, creating more chances for this meme coin to expand.
However, the possibilities of a memecoin-based ETF still raise doubts among some parties. They contend that assets like Dogecoin are prone to too much speculation as their business models and clear cash flows are unknown.
Nevertheless, the acceptance of DOGE on several payment systems and projects like the Grayscale Dogecoin Trust indicates that its ecosystem keeps expanding.
DOGE and Current Market Movements
As of press time, DOGE is trading at about $0.331 after experiencing a consolidation phase in the last few days. This price movement indicates that the market is still waiting for further information on advancements connected to the trust and ETF.
Should these two projects be successful in attracting the big investors, DOGE’s price could see a rise in the near future.
Not Just DOGE, Grayscale Also Eyes AI
Fascinatingly, Grayscale is not only focusing on Dogecoin. Previously, CNF reported that Grayscale also launched the Decentralized AI Fund, which allows investors to gain exposure to AI and blockchain projects such as NEAR, TAO, and Render. This move shows that Grayscale sees chances not only in the crypto space but also in the fast-expanding IT industry.
If AI and blockchain can thrive side by side, then it is not impossible that DOGE will also benefit from this larger ecosystem.
