Dogecoin (DOGE-USD) just got a major credibility boost. Grayscale has launched a Dogecoin Trust, signaling that the meme coin might be more than just an internet joke.
Rayhaneh Sharif-Askary, Grayscale's head of product and research, said Dogecoin is proving its real-world use case, thanks to low fees and fast transactions, making it a strong option for global remittances, especially in underbanked regions.
Meanwhile, Donald Trump's return to the White House has sent crypto markets soaring. The former president even named a government group "D.O.G.E.", fueling speculation that his administration could be crypto-friendly. That shift has led fund managers to file for DOGE ETFs, something almost unthinkable under Gary Gensler's SEC leadership.
With a market cap nearing $50 billion, Dogecoin's value has tripled over the past year, and Grayscale's move could make it even more appealing to institutional investors. As of 11:13 AM (ET), Bitcoin (BTC-USD, Financial) is holding at $105,223.5, down 0.32%, showing its usual market swings.
