Grayscale launches DOGE trust: is an ETF next?

Grayscale Investments has introduced the Grayscale Dogecoin Trust, providing institutional and accredited investors access to Dogecoin.

Grayscale's decision follows growing institutional interest and demand for Dogecoin (DOGE) investment products.

Initially conceived as a meme coin, Dogecoin has emerged as a widely accepted digital asset, with a market capitalization exceeding $50 billion. In the past year, its value has surged threefold, fueled by investor interest and the Trump administration's support for crypto-friendly policies.

Grayscale maintains that Dogecoin's affordability and minimal transaction costs make it suitable for financial inclusion.

According to Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research, "Dogecoin has evolved into a potentially potent instrument for boosting financial inclusivity." We contend that Dogecoin, as a more expedited, economical, and scalable derivative of Bitcoin, empowers groups marginalized by established financial systems to participate in the financial markets.

Similarly, Grayscale has offered other cryptocurrency investment products, such as its Ripple (XRP) trust. Grayscale launched the Grayscale XRP Trust in September 2024, allowing accredited investors to gain exposure to XRP, the XRP Ledger's native token.

According to a Ripple press release, the XRP Trust is open for daily subscriptions to qualified investors and operates similarly to Grayscale's other single-asset investment trusts.

On January 30, Grayscale submitted a filing for a spot XRP exchange-traded fund with the New York Stock Exchange. It remains to be seen if the company will pursue a similar strategy for Dogecoin.