Grayscale reveals an investment fund in Doge

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By TP

For years, Dogecoin (Doge) was belittled by specialists. According to Grayscale, Doge is a «global financial inclusion tool.» Grayscale, an investment firm in cryptocurrencies, announced the launch of a new investment fund centered on Dogecoin (Doge). The company argues that Cryptocurrency has evolved beyond its «memecoin» image And now it represents a «global financial inclusion tool,» says a company statement. Since its creation in 2013, Dogecoin has been perceived as a humorous cryptocurrency. However, Grayscale argues that Doge has acquired relevance within the digital financial ecosystem due to its accessibilitylow transaction costs and speed in operations. Rayhaneh Sharif-Askary, Chief of Product and Research of Grayscale, stressed that «as a faster, cheap and scalable derivative of Bitcoin, Dogecoin is helping the groups neglected by the financial infrastructure inherited to participate in the financial system.»

Doge Fund Characteristics

The new background, called Grayscale Dogecoin Trust, is open for daily subscription and allows individual and institutional accredited investors to obtain exposure to doge No need to acquire and store the asset directly. The company follows the model of its other cryptocurrency investment funds, with the intention of offering a regulated and accessible option for those interested in Doge.

A context of growing interest in memecoin

The launch of the fund occurs in a moment of growing institutional interest in Dogecoin. From the electoral victory of Donald Trump and his arrival in the presidency of the United States, several investment companies in digital assets have requested authorization To launch funds quoted in the stock market (ETF) based on dogeas reported by cryptootics. Among these signatures are Rex Shares, Osprey Funds and Bitwise, who have submitted applications before the United States Stock Exchange and Securities Commission (SEC). Doge, which has a market capitalization close to 49,000 million dollars, is currently the most valuable meme cryptocurrency on the market. For now, Doge's price is around $ 0.34but 53% of its historical maximum is remote, which was $ 0.73 in May 2021.

Doge price. Source: TrainingView. However, some analysts project that the arrival of Doge at 1 dollar «is just a matter of time,» reported cryptootics. The inclusion of asset in regulated financial vehicles, such as ETF or investment funds, could promote its adoption by institutional investors and strengthen your role within the digital financial ecosystem.