Grayscale Investments has started an investment fund for Dogecoin (Doge), the most popular meme in the market cap, asset managers said on January 31.
GrayScale said, “GrayScale Dogecoin Trust provides investors for investors on the basic coins of Dogecoin Network, an open source -to -peer digital currency derived from Bitcoin.” Trust is only available to institutional investors.
Dogecoin is similar to Bitcoin, but is operated on the POW (Proof-OF-Work) blockchain network, which has little calculation-intensive transaction verification and has no upper limit of total Doge support.
“Dogecoin has become a potential powerful tool for promoting financial accessibility,“ Dogecoin is a potential powerful tool for promoting financial accessibility.
Dogecoin’s famous Shiba Inumim. source: dogecoin.com
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Memecoin craze
The new fund comes as a heat of interest in memo coins, including traditional asset managers.
On January 18, US President Donald Trump’s advisory team started the official Trump (Trump) notes in Solar or Network ahead of Trump’s inauguration.
Trump Launched the enthusiasm among investors and brought a lot of activities to Solana, and the network had been congested for several days.
On January 21, the asset manager OSPREY FUNDS and REX shares were submitted to launch ETF (Exchange-Traded Funds) for MEMECOINS, including Doge, Trump and Bonk (Bonk).
GRAYSCALE’s single asset encryption product. source: Gray scale
Environmental expansion of encryption funds
For GrayScale, New Doge Fund adds a single asset encryption investment product line.
In December, Grayscale launched two new investment funds for LDO (LDO) and OP (OP), the governance tokens of LIDO and OPMERIMIS, respectively.
In October, we started an investment fund for AAVE’s governance tokens for AAVE (AAVE). In addition, about 35 Altcoins, including World Coin (WLD), Pyth and Rune (Rune), have been added to the “Consider” asset list of future investment products.
In August, GrayScale started three trusts to invest in SKY’s default protocol tokens (former Makerdao), Bittensor and SUI.
GrayScale is the world’s largest encryption fund manager, which has recorded almost $ 3.5 billion in AUM as of December.
Bitcoin (BTC) and Ether (ETH) exchange transaction funds, including GrayScale Bitcoin Trust (GBTC) and GrayScale Ethereum Trust (ETHE), are best known as Bitcoin (BTC) and Ether (ETH) exchange transaction funds.
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