Right ho! It appears the chaps at Grayscale have been pottering about with their filings, and the upshot is… Dogecoin. Yes, Dogecoin. One suspects a touch of whimsy has infiltrated the serious business of high finance. Their official document, and rather a long-winded one at that, reads:
“The Trust’s purpose is to hold “DOGE”, which are digital assets that are created and transmitted through the operations of the peer-to-peer Dogecoin Network, a decentralized network of computers that operates on cryptographic protocols…”
Good heavens. Cryptographic protocols, indeed. Sounds frightfully complicated. One almost wishes for a nice cup of tea just thinking about it. ☕
GDLC’s debut shows strength
Now, Grayscale’s new CoinDesk Crypto 5 ETF – GDLC, for those keeping score – has rather burst onto the scene with a bit of a bang. It’s added fuel to the already bubbling cauldron of crypto investment, you see. A most respectable $22 million bobbed up on its inaugural trading day, which, while not quite the record-breaking performance of those Bitcoin fellows, was, according to the ever-observant Eric Balchunas of Bloomberg, considerably more pep than the average ETF exhibits on its first outing. Jolly good show!
It seems investors are growing ever more comfortable with these regulated groupings of cryptocurrencies – a bit like a well-curated hamper, really. And the SEC’s new Generic Listing Standard, a phrase that sounds worryingly official, is helping matters along nicely.
With approvals now proceeding at a slightly less glacial pace, the chaps in the know reckon this could open the floodgates for a veritable deluge of new crypto ETF applications. One anticipates rather a lot of paperwork in the coming months – a thought that fills me with a mild sense of the vapours. 😨
Expect a surge, they say. A surge, I tell you! And one trusts it won’t involve any unexpected complexities. One wouldn’t want to be bogged down in cryptographic protocols again, would one? 🙄
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2025-09-21 09:45