Grayscale Launches Dogecoin Trust Amid Growing Interest

According to PANews, Grayscale has announced the launch of a new closed-end fund called the Dogecoin Trust, providing exposure to Dogecoin (DOGE). The asset management firm believes that DOGE has evolved beyond being just a meme coin and is now a tool for global inclusive finance. This is particularly significant in regions with underdeveloped banking infrastructure, where DOGE is seen as an optimal tool for international remittances due to its low transaction costs and fast transfer speeds. The introduction of this trust follows shortly after U.S. President Donald Trump took office, who had pledged to advance the cryptocurrency industry and named a newly established organization "D.O.G.E." DOGE's market capitalization is nearing $50 billion, making it the largest meme coin globally.