Grayscale has officially launched a new trust that offers investor exposure to Dogecoin (DOGE). The asset management firm emphasizes the idea that DOGE can shift from a mere meme to a viable financial instrument for global accessibility.

“Dogecoin signifies a monumental shift in global financial accessibility,” said Rayhaneh Sharif-Askary, the Head of Product & Research at Grayscale.
“Its minimal transaction fees and fast transfer speeds make it an ideal choice for international remittances, especially in areas lacking robust banking systems.”

The Dogecoin Trust carries a management fee of 2.5% and was introduced shortly after President Trump took office, following electoral promises of supporting the crypto market. Other fund managers have similarly pursued applications for DOGE-related ETFs, a move previously unconsidered in earlier administration frameworks.

With its market cap near $50 billion, DOGE stands as the leading memecoin. This recent trust development is expected to draw investments from institutional backers, as the token’s value has tripled in the last year alone.

UPDATE (Jan. 31, 15:04 UTC): Adds management fee.