Key Points:
- Grayscale’s Dogecoin Trust aims to promote DOGE’s role in financial inclusion.
- Bitwise seeks SEC approval for a spot Dogecoin ETF.
Grayscale has launched the Grayscale Dogecoin Trust, aiming to position DOGE as a tool for global financial inclusion. Concurrently, Bitwise has applied with the U.S. SEC to introduce a spot Dogecoin ETF.
Grayscale’s Dogecoin Trust and Its Impact
Grayscale Investments has launched the Grayscale Dogecoin Trust, reflecting a belief that DOGE has moved beyond its origins as a ‘meme coin’ into a serious tool for global financial inclusion. The new trust marks an increasingly mainstream welcome for cryptocurrencies into traditional finance.
The trust exposes investors to DOGE, allowing them to participate in its potential upside without holding the cryptocurrency directly. Grayscale’s move is part of a broader trend of incorporating digital assets into traditional investment products as part of a broader push to bridge conventional finance with the emerging crypto economy, according to Coindesk.
Read more: Bitwise Dogecoin ETF S-1 Application Filed With SEC
Bitwise’s Pursuit of a Spot Dogecoin ETF
Meanwhile, in a parallel move, Bitwise Asset Management has filed an S-1 with the U.S. Securities and Exchange Commission to launch an exchange-traded fund pegged to the price of Dogecoin. This would be a full-on expression of confidence in both the regulatory environment and the market potential of DOGE.
The Bitwise Dogecoin ETF would be another avenue of exposure for DOGE via a regulated channel, hence quite legit for traditional financial markets. This reflects the growing interest in digital assets by institutional players and an ongoing push to make cryptocurrencies accessible to an even broader pool of investors.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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