(Reuters) - Grayscale Investments said on Friday it was launching an investment fund aimed at dogecoin, as the cryptocurrency asset manager looks to tap into the increasing momentum around alternatives to bitcoin.
Grayscale, a cryptocurrency asset manager, is launching an investment fund focused on dogecoin. The Grayscale Dogecoin Trust will allow investors to gain exposure to the cryptocurrency, which has seen increasing adoption as an alternative to bitcoin.
The trust, which is designed to track dogecoin's market price, is now available for subscriptions to eligible individual and institutional accredited investors. The coin, which was created as a joke during an earlier crypto bubble, has gained popularity partly due to the support of Tesla CEO Elon Musk.
Dogecoin is currently the world's eighth-biggest token, with a market cap of about $50 billion, according to data from cryptocurrency data and analysis firm CoinGecko.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
