Grayscale Investments Launches the Grayscale Dogecoin Trust, Targeting Institutional Investors

The move follows a surge in institutional interest and increasing demand for Dogecoin (DOGE) investment products, according to a Grayscale press release.

Grayscale Investments has announced the launch of the Grayscale Dogecoin Trust, offering institutional and accredited investors a way to gain exposure to the meme-inspired cryptocurrency.

The move comes amid increasing institutional interest and demand for Dogecoin (DOGE) investment products, according to a press release from Grayscale.

Dogecoin, which was initially created as a meme coin, has since evolved into a widely adopted digital asset with a market capitalization of $50 billion. Over the past year, its price has tripled, thanks to growing investor interest and the expansion of crypto-friendly policies under the Trump administration.

Grayscale highlights Dogecoin’s accessibility and low transaction costs, which they believe makes it a viable tool for financial inclusion.

“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary. “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.”

Grayscale has previously employed a similar strategy with other cryptocurrency investment products, such as its Ripple (XRP) trust.

In September 2024, the company launched the Grayscale XRP Trust, which provides accredited investors with exposure to XRP, the token used on the XRP Ledger.

The XRP Trust is 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.