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Grayscale, the first asset manager of crypto in the world, unveiled an investment product aimed at offering investors an exhibition in Dogecoin (Doge) – the oldest and largest piece of memes in the world. Grayscale thinks that the memes of $ 47.9 billion is no longer a question of laughing.
Shortly after the launch of the Grayscale Dogecoin Trust, Graycale then deposited a Form 19B-4 With the Securities and Exchange Commission (SEC) to convert the trust to approval of the DOGE SPOG DOGE (ETF) stock market funds.
Grayscale has deployed a new trust providing exposure to individual and institutional accredited investors to the memes of Dogecoin on the theme of the canine.
Grayscale thinks that Dogecoin is a potential engine of financial empowerment for poorly served communities in the world, not just a speculative cryptographic asset.
“Grayscale thinks that DOGE has gone from a same tocoin of a Shiba Inu to a global financial inclusion tool, basic activism and a reliable means of payment,” the firm said in a press release from the press release Friday. “Due to its general accessibility, its affordability and its rapid transaction speeds, DOGE has aroused significant adoption worldwide.”
& nbspLike other gray products, the Grayscale Doge Trust investors do not have to maintain the part of even physically in cryptographic wallets to benefit from its price movements in both directions.
Grayscale Dogecoin ETF Files Recording
The launch of the Trust de Dogecoin, which invoices investors of management fees of 2.5%, was quickly followed by a request for potential creation of an investment vehicle based on DOGE. The proposed FNB would give investors an exhibition in Dogecoin without obliging them to buy and keep the crypto themselves.
In a February 1st job On X, Bloomberg analyst James Seyffart posed:
“Update: it was fast. Grayscale launched a Doge Trust earlier during the day, and they have just placed a 19B-4 to convert it to ETF. »»
The Doge price has increased considerably in recent months, mainly due to the electoral victory of President Trump and the formal creation of the Government Department of Effectiveness (DOGE), directed by the longtime fan of Dogecoin and technocrat Elon Musk.
The new extra-government agency is Apparently exploration of putting federal government systems of a public blockchainWith potential use cases, in particular monitoring of federal expenses, buildings management and payments facilitation – although talks remain at their beginnings.
Doge Etf Race heats up
Asset managers have submitted a wave of requests for ETF Memecoin, including those exclusively focused on Dogecoin. Bitwise recently Throw his hat in the ringTaking up an S-1 registration with the Securities and Exchange Commission to register an ETF DOGE in America.
As Zycrypto previously reportedThe Rex advisers and the Osprey funds have also jointly deposited an ETF which includes Doge, among other memes cryptos.
These deposits are interested in introducing FNBs for pieces even such as Dogecoin take a rhythm.