Grayscale debuts new Dogecoin Trust and files to convert it in ETF

Asset manager Grayscale launched a Dogecoin Trust early on Friday morning and offered institutional and accredited investors the opportunity to assign to Cryptos’s original meme -Munt.

Known for his place Bitcoin and Ethereum ETFs, who also started as private placements, Grayscale believes that the Meme currency of $ 49.7 billion is no longer a laugh.

The company is of the opinion that Dogecoin has changed over the years from a simple meme to a “tool for global financial inclusion, basic activism and a feasible payment method,” said a press release.

Late Friday afternoon also gray cleaner has submitted a 19B-4 form To convert trust into the right place ETF. This reflects the earlier approved steps of the company to convert his Bitcoin and Ethereum Trusts into ETFs, and strengthens the wider trend of companies that submit to launch their own doge ETFs in America.

With a seemingly crypto-friendly securities and exchange commission under President Donald Trump, asset managers have submitted a flurry of applications for spot ETFs that cover various cryptocurrencies, including Dogecoin, Litecoin and XRP.

“We believe that Dogecoin as a faster, cheaper and scalable derivative of Bitcoin helps to find groups through Legacy Financial Infrastructure to participate in the financial system,” said Rayhaneh Sharif-Aksary, head of product research of Grayscale, said in a statement.

A year ago, the prospect of a Dogecoin ETF may seemed far -fetched. But on Tuesday, the asset manager Bitwise threw his hat in the ring and he submitted a Dogecoin ETF that could broaden access among investors to technical CEO Musk’s favorite cryptocurrency.

Dogecoin exchanged on Friday morning with $ 0.33 and ended up with 1% last day. Earlier this week, the price of the currency fell as concern of China’s Deepsek Ratled Tech Markets, and it became active last week after the logo was removed from the website of the Ministry of Government Efficiency.

While Grayscale’s Dogecoin Trust is exclusively supported by Dogecoin, the Canine Crypto is already classified as the largest assets in the Crypto sector of the company and culture. That sector also includes Shiba Inu (Shib) and the Sandbox (Sand).

The announcement is not a total surprise. Grayscale hinted in a blog post in October that Dogecoin was “in consideration” for admission to future products. While the movement of Grayscale Dogecoin is pushing to new territory, Sharif-Akary told Decorate In November it is active somewhat timeless.

“Memes have existed since immeasurable times,” she said. “Although it was once easy to dismiss meme coins because of their playful character, it would be irresponsible to ignore the use of doge on the chain and the very real use case that is fulfilled.”

Published by Stacy Elliott.

Note from the editors: This story was updated after publication to include details about the ETF conversion application, after the morning launch of the Dogecoin Trust.