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周五宣布启动其Grayscale Dogecoin Trust，允许机构和认可的投资者接触以模因启发的加密货币。

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

据Coingecko称，Dogecoin的市值已达到500亿美元，其价格在过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.).

代币的激增与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.

新信托基金收取2.5％的年度管理费，并遵循Grayscale的XRP Trust，于2024年9月启动。该公司还向纽约证券交易所申请了XRP ETF。

Trump-Era Policies Drive Meme Coin Momentum

特朗普时代的政策驱动模因硬币势头

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

在过去的12个月中，Dogecoin的价格飙升了328％以上，在2024年11月美国大选之后出现了著名的峰值。

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.

特朗普总统对加密货币的支持，包括象征性D.O.G.E.部门刺激了机构利益。自1月以来，多个资产经理已申请Meme Coin ETF。

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

Rayhaneh Sharif-Assary的产品与研究负责人在新闻稿中强调了Dogecoin的实用程序：

"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已成长为一种潜在的强大工具来促进财务可及性。作为比特币的更快，更便宜，更可扩展的衍生品，Dogecoin正在帮助Legacy Financial Financial Infratustructure提供的群体参与金融系统。”

Inside the Dogecoin Trust

在Dogecoin Trust内

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

Grayscale Dogecoin Trust的运营与其其他单一资产产品类似，为合格的投资者提供每日订阅。

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.

与ETF不同，信托不提供公共交易，从而限制了获得认可参与者的访问。 Grayscale的XRP Trust于2024年启动，是一种潜在的蓝图。

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年开玩笑的，现在是市值排名前十的加密货币。它的价格飙升反映了越来越多的接受，这是由埃隆·马斯克（Elon Musk）等人物和特朗普领导下的政策变化的认可得到的支持。每个CoinMarketCap数据的日常交易量平均为15亿美元。

Regulatory Risks and DOGE ETF Speculation

监管风险和Doge ETF猜测

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提出信号野心，但监管障碍仍然存在。 SEC历史上拒绝了Crypto ETF，而不是市场操纵问题。但是，特朗普的政府鼓励创新，促使公司使用Meme Coin产品测试界限。

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.

分析师谨慎认为，模因硬币保持挥发性。在信托公司的宣布之后，Doge价格上涨了0.94％，反映了市场敏感性。尽管如此，其500亿美元的估值突显了机构的信心。

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强调了模因资产与机构融资之间的模糊界限。 Dogecoin从互联网笑话到财务工具的进化借助了500亿美元的市值和政治逆风，体现了加密货币的变化景观。

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.

随着监管机构权衡ETF的应用和特朗普的政策，Grayscale对Dogecoin的赌注可以重新定义机构如何与曾经是基础的数字资产互动。