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"Grayscale Launches Dogecoin (DOGE) Trust, Anticipates Institutional Inflows"

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Minseung Kang
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  • 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.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

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."

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Minseung KangholderBadgeholderBadge dark

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.