Grayscale Investments announced the launch of its Grayscale Dogecoin Trust on Friday, allowing institutional and accredited investors exposure to the meme-inspired cryptocurrency.

Grayscale Investments週五宣布啟動其Grayscale Dogecoin Trust，允許機構和認可的投資者接觸以模因啟發的加密貨幣。

Dogecoin's market capitalization has reached $50 billion, with its price tripling over the past year, according to CoinGecko.

據Coingecko稱，Dogecoin的市值已達到500億美元，其價格在過去一年中增加了三倍。

The token's surge aligns with crypto-friendly policies under the Trump administration, including the creation of the Department of Government Efficiency (D.O.G.E.).

代幣的激增與特朗普政府下的加密友好政策相吻合，包括建立政府效率部（D.O.G.E.）。

The new trust charges a 2.5% annual management fee and follows Grayscale's strategy with its XRP Trust, launched in September 2024. The firm has also filed for an XRP ETF with the New York Stock Exchange.

新信託基金收取2.5％的年度管理費，並遵循Grayscale的XRP Trust，於2024年9月啟動。該公司還向紐約證券交易所申請了XRP ETF。

Trump-Era Policies Drive Meme Coin Momentum

特朗普時代的政策驅動模因硬幣勢頭

Dogecoin's price has surged over 328% in the past 12 months, with a notable spike following the November 2024 U.S. election.

在過去的12個月中，Dogecoin的價格飆升了328％以上，在2024年11月美國大選之後出現了著名的峰值。

President Trump's support for cryptocurrencies, including the symbolic D.O.G.E. department, has spurred institutional interest. Since January, multiple asset managers have filed for meme coin ETFs.

特朗普總統對加密貨幣的支持，包括象徵性D.O.G.E.部門刺激了機構利益。自1月以來，多個資產經理已申請Meme Coin ETF。

Grayscale's Head of Product & Research, Rayhaneh Sharif-Askary, emphasized Dogecoin's utility in a press release:

Rayhaneh Sharif-Assary的產品與研究負責人在新聞稿中強調了Dogecoin的實用程序：

"Dogecoin has matured into a potentially powerful tool for promoting financial accessibility. As a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure participate in the financial system."

“ Dogecoin已成長為一種潛在的強大工具來促進財務可及性。作為比特幣的更快，更便宜，更可擴展的衍生品，Dogecoin正在幫助Legacy Financial Financial Infratustructure提供的群體參與金融系統。”

Inside the Dogecoin Trust

在Dogecoin Trust內

The Grayscale Dogecoin Trust operates similarly to its other single-asset products, providing daily subscriptions for qualified investors.

Grayscale Dogecoin Trust的運營與其其他單一資產產品類似，為合格的投資者提供每日訂閱。

Unlike ETFs, the trust does not offer public trading, limiting access to accredited participants. Grayscale's XRP Trust, launched in 2024, serves as a potential blueprint.

與ETF不同，信託不提供公共交易，從而限制了獲得認可參與者的訪問。 Grayscale的XRP Trust於2024年啟動，是一種潛在的藍圖。

Originally created as a joke in 2013, Dogecoin now ranks among the top 10 cryptocurrencies by market cap. Its price surge reflects growing acceptance, bolstered by endorsements from figures like Elon Musk and policy shifts under Trump. Its daily trading volume averages $1.5 billion, per CoinMarketCap data.

Dogecoin最初是在2013年開玩笑的，現在是市值排名前十的加密貨幣。它的價格飆升反映了越來越多的接受，這是由埃隆·馬斯克（Elon Musk）等人物和特朗普領導下的政策變化的認可得到的支持。每個CoinMarketCap數據的日常交易量平均為15億美元。

Regulatory Risks and DOGE ETF Speculation

監管風險和Doge ETF猜測

Grayscale's XRP ETF filing signals ambition, but regulatory hurdles persist. The SEC has historically rejected crypto ETFs over market manipulation concerns. However, Trump's administration has encouraged innovation, prompting firms to test boundaries with meme coin products.

Grayscale的XRP ETF提出信號野心，但監管障礙仍然存在。 SEC歷史上拒絕了Crypto ETF，而不是市場操縱問題。但是，特朗普的政府鼓勵創新，促使公司使用Meme Coin產品測試界限。

Analysts caution that meme coins remain volatile. DOGE price rose 0.94% following the trust's announcement, reflecting market sensitivity. Still, its $50 billion valuation underscores institutional confidence.

分析師謹慎認為，模因硬幣保持揮發性。在信託公司的宣布之後，Doge價格上漲了0.94％，反映了市場敏感性。儘管如此，其500億美元的估值突顯了機構的信心。

Grayscale's Dogecoin Trust highlights the blurring line between meme assets and institutional finance. With a $50 billion market cap and political tailwinds, Dogecoin's evolution from internet joke to financial tool exemplifies crypto's shifting landscape.

Grayscale的Dogecoin Trust強調了模因資產與機構融資之間的模糊界限。 Dogecoin從互聯網笑話到財務工具的進化借助了500億美元的市值和政治逆風，體現了加密貨幣的變化景觀。

As regulators weigh ETF applications and Trump's policies unfold, Grayscale's bet on Dogecoin could redefine how institutions engage with once-niche digital assets.

隨著監管機構權衡ETF的應用和特朗普的政策，Grayscale對Dogecoin的賭注可以重新定義機構如何與曾經是基礎的數字資產互動。