Grayscale has launched a Dogecoin Trust, marking a major shift in how this once-dismissed memecoin is perceived. According to CoinDesk, Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized that Dogecoin is no longer just an internet joke. “Dogecoin represents a paradigm shift in global financial accessibility,” she said, citing its low fees and fast transaction speeds, which are ideal for international remittances, especially in underbanked regions.
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Trump’s Pro-Crypto Moves Boost DOGE ETF Interest
Since Donald Trump’s surprise return to the White House, crypto markets, including Dogecoin, have seen explosive growth. The former president even named a group the Department of Government Efficiency (D.O.G.E.), sparking what many see as a crypto-friendly era. Following this shift, fund managers rushed to file DOGE ETF applications, something deemed impossible during Gary Gensler’s stricter tenure at the U.S. Securities and Exchange Commission.
Additionally, Grayscale’s trust may further legitimize Dogecoin among institutional investors. With a market cap nearing $50 billion, the token has tripled in value over the past year, fueled by crypto optimism after Trump’s November win.
At the time of writing, Dogecoin is sitting at $0.3401.
