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Soon for ETF on DOGE but not for a Trust: Grayscale takes care of it
By Daniele Corno
As applications for Doge spot ETFs are filed with the SEC, Grayscale is getting ahead of the curve and launching its Trust on Doge
Are we ready for a spot ETF on Meme Coin?
In the wake of the success ofBitcoin and Ethereum spot ETFs during 2024, we have seen numerous applications to the SEC for approval of new financial products.
We have seen the approval of the first multi-crypto ETFs, initially composed of Bitcoin and Ethereum. Among the first we find products from Hashdex and Franklin Templeton, followed by the latest approved product from Bitwise.
In contrast, there are multiple requests for products dedicated to altcoins. ETFs on Solana, Xrp and Litecoin, requested by Grayscale and Coinshares, while Meme Coin territory also tests the ground, with requests for products on $TRUMP, Doge and Bonk, submitted by Osprey Funds and Rex Shares and Bitwise.
However, while approvals of ETFs on individual Altcoins or, even fewer, on individual Meme Coins are not in the market, there are those taking the first steps.
Grayscale launches “Dogecoin Trust”
Doge ‘s market capitalization is currently close to $50 billion, with daily volumes exceeding $1 billion.
Indeed,Grayscale believes that Dogecoin has gone from being a mere Meme Coin to a full-fledged instrument of financial inclusion. Although this opinion may be somewhat debatable, the success and popularity of Doge Coin is undeniable.
It is precisely for this reason that, in the previous day, Grayscale launched its “Doge Coin trust.” The product, as well as all other Grayscale house trusts , is available only to certified and qualified investors.
A first step that for now has nothing to do with financial products available to all investors. So we will watch together to see if 2025 holds any surprises for us and whether or not, given the high volumes traded and the economic interest of providers, a spot ETF on Doge will be a reality.
