- Grayscale has announced the launch of a Grayscale Dogecoin Trust.
- The trust offers customers an exhibition to the Doge prices movement and is only open to eligible investors.
- DOGE could rally as the beginnings of the trust encourage investors to add the memes piece to their wallet.
DOGECOIN (DOGE) experienced a slight drop on Friday after the launch of Grayscale Doge Trust, offering eligible investors an exposure to the punctual price of the token.
Grayscale Lance Dogecoin Trust, Doge decreases slightly
Friday, the active director announced his debut of his Trust de Dogecoin, allowing investors to expose themselves to the price of Dogecoin without dealing with the exchanges of crypto or the digital wallets.
Graycale says that Dogecoin has gone from an initial joke based on the same to a “global financial inclusion tool”. He highlighted the unique characteristics of the token in relation to Bitcoin – from which the same part comes.
“We think, as a faster, cheaper and more scalable derivative of Bitcoin, Dogecoin helps groups ill-served by the financial infrastructure inherited to participate in the financial system,” said Rayhaneh Sharif-Askary de Graycale, product manager and products and research.
The company has said that Dogecoin remains faithful to Bitcoin’s initial objective of being a digital currency widely used for daily transactions.
“Grayscale Dogecoin Trust offers investors an exposure to an asset which is positioned to help fill the initially planned use of Bitcoin and its egalitarian ethics,” added Rayhaneh.
The launch of a Dogecoin trust follows the growing institutional demand for a bargain on the stock market (ETF). Asset managers, including Bitwise, Rex and Osprey, recently filed Dogecoin FNB with Securities & Exchange Commission (SEC).
Most members of the crypto community also speculate that Grayscale could deposit with the dry to convert his confidence of Dogecoin to a Spot Doge as he did with BitcoinEthereum and XRP.
Doge could see gains after the announcement, because the beginnings of the Dadecoin trust could attract more investors to add the memes piece to their wallets.