DOGE ETF Next? Grayscale Excites Crypto With Meme Coin Fund

Grayscale Dogecoin Trust: Expanding Cryptocurrency Investment Options

Grayscale, a renowned U.S.-based asset management firm, has introduced a new product designed specifically for cryptocurrency investment: the Grayscale Dogecoin Trust. This latest addition to Grayscale's portfolio brings the segment closer to the realization of a DOGE ETF approval.

Grayscale Dogecoin Trust: An Overview

According to an official statement, Grayscale has added the Grayscale Dogecoin Trust to its suite of crypto-based trusts, available exclusively to accredited investors. The trust was launched on January 31, 2025.

The trust provides investors with exposure to Dogecoin (DOGE), the oldest and largest meme coin by market capitalization. Dogecoin, introduced in 2013 as a fork of Litecoin (LTC), has inspired the creation of a substantial meme coin asset class.

Benefits of the Grayscale Dogecoin Trust

As with other Grayscale products, Grayscale Dogecoin Trust investors do not need to physically hold DOGE in cryptocurrency wallets to benefit from its price fluctuations.

Grayscale's Head of Product & Research, Rayhaneh Sharif-Askary, emphasized the significance of the DOGE Trust in Grayscale's commitment to inclusive investment vehicles:

"Dogecoin has evolved into a powerful tool for promoting financial accessibility. We believe it has the potential to help underprivileged groups participate in the financial system."

Eligibility and Availability

The Grayscale Dogecoin Trust is available only to accredited investors, as stated by Grayscale. The asset debuted at $9.99 per share, with each share backed by 30 Dogecoins (DOGE).

Outlook for a DOGE ETF

The launch of the Grayscale Dogecoin Trust has fueled optimism within the cryptocurrency community regarding the potential approval of a DOGE ETF in 2025. The odds of a DOGE ETF being greenlit are reportedly rising on popular prediction markets websites.

Additionally, the community anticipates the release of ETFs for other cryptocurrencies such as XRP, Solana, Cardano, and Litecoin in the upcoming months.