Grayscale Launches Dogecoin Trust Amid Growing Crypto Adoption

STAMFORD, Conn. — Grayscale Investments, a leading crypto asset management firm, announced the creation and launch of the Grayscale Dogecoin Trust on Jan. 31, 2025. The trust offers accredited investors exposure to Dogecoin (DOGE), a cryptocurrency originally created as a meme but now recognized for its potential in global financial inclusion and rapid transaction capabilities.

The Grayscale Dogecoin Trust is designed to provide institutional and individual investors with a regulated way to invest in DOGE, which has grown from a joke cryptocurrency to a widely adopted digital asset. Dogecoin, derived from Litecoin and Bitcoin, is known for its low transaction costs and fast transfer speeds, making it a viable option for international remittances and underserved financial markets.

“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” said Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research. “As a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system.”

The trust is now open for daily subscription by eligible accredited investors. It operates similarly to Grayscale’s other single-asset investment trusts, holding only the underlying Dogecoin token. The launch comes amid a surge in institutional interest in cryptocurrencies, particularly following the election of President Trump, who has expressed support for the crypto industry.

Since Trump’s election victory, several firms have filed applications for memecoin exchange-traded funds (ETFs), including DOGE. This marks a significant shift from the previous administration, which was more cautious about crypto regulation under SEC Chair Gary Gensler. Dogecoin, with a market capitalization of nearly $50 billion, is the largest memecoin globally and has seen its price triple over the past year.

Grayscale’s new trust charges a 2.5% management fee, a standard rate for its investment products. The firm has a decade-long track record in crypto asset management and aims to provide investors with access to the digital economy through its family of investment products.

However, the trust is not without risks. Private placement securities are speculative, illiquid, and entail a high level of risk, including the potential loss of the entire investment. Grayscale intends to seek secondary market approval for the trust’s shares, but there is no guarantee of success. Investors should be prepared to bear the risk of holding the shares indefinitely.

Grayscale’s announcement underscores the growing mainstream acceptance of cryptocurrencies, particularly those like Dogecoin that have transitioned from niche internet culture to serious financial tools. The firm’s move could pave the way for further institutional adoption of memecoins and other digital assets.