Grayscale launches new Dogecoin trust fund

PANews reported on January 31 that, according to CoinDesk, Grayscale announced the launch of a new closed-end fund, Dogecoin Trust, to provide exposure to Dogecoin (DOGE). The asset manager believes that DOGE is no longer just a memecoin, but has become a tool for global financial inclusion, especially in areas with underdeveloped banking infrastructure, and with its low transaction cost and fast transfer speed, DOGE is seen as the best tool for international remittances. The launch of the trust comes shortly after President Trump took office, who pledged to advance the encryption industry under the banner of “D.O.G.E.” Named one of his newly formed organizations. DOGE’s Market Cap is close to $50 billion, making it the world’s largest memecoin.