Grayscale Investments said on Friday it was launching an investment fund aimed at dogecoin, as the cryptocurrency asset manager looks to tap into the increasing momentum around alternatives to bitcoin.
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Grayscale, known for its Bitcoin and Ethereum spot ETFs, has now launched a Dogecoin trust for institutions and accredited investors.
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Grayscale introduced a Dogecoin Trust for institutional investors, recognizing Dogecoin's evolution from a meme to a tool for financial inclusion. The trust, solely backed by Dogecoin, reflects institutions adapting to a changing regulatory environment.
The price of Dogecoin has slid to $0.33 per coin, after a brutal rout on Monday sparked by market fears over DeepSeek, a new Chinese AI (artificial intelligence) app threatening American dominance in the sector.
Dogecoin (CRYPTO: DOGE) corrected sharply this week, but the dog-themed cryptocurrency could gain upsides in the days to come, according to a popular trader's analysis on Thursday.
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Grayscale has rolled out a new trust offering exposure to dogecoin (DOGE), the asset manager announced Friday.
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Dogecoin price could be preparing for a 10x rally or 900% shooting all the way to $3.0 amid demand as Bitwise filed for a spot DOGE ETF.
Crypto asset management giant Bitwise is hoping to launch a spot exchange-traded fund (ETF) for Dogecoin (DOGE).