Grayscale launches Dogecoin investment fund
The memecoin fund adds to Grayscale’s growing suite of single-asset crypto products
Grayscale Investments has launched an investment fund for Dogecoin DOGE,$0.3166 the most popular memecoin by market cap, the asset manager said on Jan. 31.
Grayscale Dogecoin Trust offers investors exposure to “the native coin of the Dogecoin network, an open-source peer-to-peer digital currency originally derived from Litecoin, which itself originated from Bitcoin,” Grayscale said. The trust is only available to institutional investors.
Dogecoin operates on a proof-of-work (PoW) blockchain network similar to Bitcoin’s but with less computationally intensive transaction verifications and no upper limit on the total DOGE supply
“Dogecoin has matured into a potentially powerful tool for promoting financial accessibility,” Rayhaneh Sharif-Askary, Grayscale’s head of product and research, said in a statement.
