Summary
- Grayscale announced the launch of a Dogecoin trust, providing institutional investors with indirect investment opportunities.
- This trust operates as a closed-end structure and is traded on private markets.
- The suitability of Dogecoin for international remittances in regions lacking banking infrastructure was also emphasized.
Cryptocurrency asset management firm Grayscale has announced the launch of a Dogecoin (DOGE) trust.
On the 31st, cryptocurrency-focused media outlet CoinDesk reported, "Grayscale has launched a new closed-end trust that allows investment in Dogecoin." This trust operates in a closed-end structure and is traded on private markets. It is designed to enable institutional investors to invest indirectly in Dogecoin.
Reyhaneh Sharif-Askari, Grayscale's Head of Product and Research, stated, "Dogecoin is leading a paradigm shift in global financial accessibility," adding, "It is suitable as a means of international remittance in regions lacking banking infrastructure."
The media added, "Launching Dogecoin as an exchange-traded fund (ETF) or trust product could further stimulate institutional investor inflows."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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