Grayscale launches DOGE trust: is an ETF next?

Grayscale Investments has launched the Grayscale Dogecoin Trust, offering institutional and accredited investors exposure to Dogecoin.

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

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

Grayscale believes Dogecoin’s accessibility and low transaction costs make it a viable tool for financial inclusion.

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

DOGE ETF?

Grayscale has taken a similar approach with other cryptocurrency investment products, such as its Ripple ( XRP ) trust. In September 2024, the company launched the Grayscale XRP Trust, providing accredited investors with exposure to XRP, the token used on the XRP Ledger.

The XRP Trust has been 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.