Grayscale launches Dogecoin Trust with plans for future ETF conversion
Grayscale launches Dogecoin Trust
Grayscale Investments, the world’s largest digital asset manager, has launched the Grayscale Dogecoin Trust, offering institutional investors a new way to gain exposure to the popular meme coin without directly holding the asset.
The trust, which debuted today, is available exclusively to accredited investors—those meeting U.S. financial requirements, such as a net worth above $1 million (excluding primary residences) or a high annual income, according to the Cryptopolitan.
While the product gives investors a regulated path to Dogecoin exposure, Grayscale has made clear that it is speculative and illiquid, meaning investors may face significant premiums or discounts compared to the underlying DOGE holdings. The firm also stated its long-term intention: converting the trust into an exchange-traded fund (ETF), provided regulatory conditions allow.
A step toward mainstream adoption
Dogecoin, originally created as a joke in 2013, has grown into the largest meme coin by market capitalization and gained significant traction—partly due to endorsements from figures like Tesla CEO Elon Musk. Despite its origins, Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, emphasized that the token has evolved into a viable financial tool.
“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” Sharif-Askary said in a statement. “As a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure participate in the financial system.”
However, the path to ETF status remains uncertain. The U.S. Securities and Exchange Commission (SEC) has repeatedly delayed crypto ETF approvals, including Grayscale’s own attempt to convert its flagship Bitcoin Trust. With the expected confirmation of SEC chair nominee Paul Atkins in February, the industry is watching closely to see if regulatory attitudes shift.
Grayscale Investments has launched the Grayscale Bitcoin Mining ETF (MNRS) on the NYSE Arca. The fund tracks the Indxx Bitcoin Miners Index, featuring companies primarily earning revenue from Bitcoin mining and related services.
