Grayscale has rolled out of a new confidence that offers exposure to Dogecoin (DOGE), announced Asset Manager Friday.

“Dogecoin represents a paradigm shift in global economic accessibility,” Grayscales leader of Product & Research, Rayhaneh Sharif-iskary, told Coindesk. “Its low transaction costs and fast transfer rates make it an optimal vehicle for international transfers, especially in regions with underdeveloped bank infrastructure.”

The launch of the Dogecoin Trust comes only weeks after President Trump – who (probably with an assist from Elon Musk) appointed one of his newly created groups, the Department of Government Efficiency (DOGE) – joined the promise of promoting the crypto industry.

Since the Trump election victory, several asset managers have submitted applications for Memecoin Exchange-Traded Funds (ETFS), including DOGE, an unthinkable step just months ago under the previous administration and its sec-head Gary Gensles.

With a market value of nearly $ 50 billion, DOGE is the world’s largest Memecoin. Wrapping the token in a ETF or in Grayscale’s case, a trust, could attract capital from institutional investors. The token’s price has already risen three times in the past year, with a particularly large step that happens in the immediate weeks after the November election.