PANews reported on January 31 that according to CoinDesk, Grayscale announced the launch of a new closed-end fund, Dogecoin Trust, which provides exposure to Dogecoin (DOGE). The asset management company believes that DOGE is no longer just a meme coin, but has become a tool for global inclusive finance, especially in areas with underdeveloped banking infrastructure. With its low transaction costs and fast transfer speed, DOGE is regarded as the best tool for international remittances. The launch of the trust came shortly after President Trump took office. Trump promised to promote the development of the crypto industry and named one of his newly formed organizations "DOGE". With a market value of nearly $50 billion, DOGE is the world's largest meme coin.