Grayscale has launched a new investment product that provides exposure to Dogecoin (DOGE), signaling a shift in how the asset manager views the once-dismissed meme coin. 

The firm believes DOGE has evolved beyond internet humor and could play a role in financial accessibility on a global scale.

Dogecoin ETF Momentum Grows

The newly introduced Dogecoin Trust operates as a closed-end fund with a 2.5% management fee for investors.

This move follows political developments in the US, where President Donald Trump established the Department of Government Efficiency (D.O.G.E.) under Elon Musk’s leadership. 

“We are proud to announce a new single-asset crypto investment fund, Grayscale Dogecoin Trust DOGE. Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system,” Grayscale wrote on X (formerly Twitter). 

Since Trump’s victory, several investment firms have submitted filings for meme coin ETFs, including Dogecoin. Former SEC Chairman Gary Gensler had resisted such products, but shifting regulatory sentiment has led to a wave of new applications.

Earlier this week, Bitwise officially filed for a Dogecoin ETF, seeking approval under the Securities Act. The application named Coinbase Custody as the fund’s custodian but left out key details, including fees and the ticker symbol.

“DOGE, originally a meme coin, is now viewed as a tool for global financial inclusion, grassroots activism, and a viable payment method due to its low transaction costs and fast transfer speeds,” wrote The Wolf of All Streets Scott Melker. 

Prediction markets have reacted strongly to these developments. Polymarket odds for ETF approval jumped to 56%. This reflects a rising confidence in regulatory acceptance of crypto investment products.

Grayscale Expands Crypto Offerings

Grayscale continues to push forward with new crypto-based financial products. Earlier today, the firm became the fifth asset manager to file for an XRP ETF.

The firm has also been expanding into Bitcoin mining investments, launching the Bitcoin Miners ETF (MNRS). The fund focuses on companies generating revenue through Bitcoin mining operations. 

This allows investors to gain exposure to mining-related businesses without directly holding cryptocurrencies.

Competition among asset managers is intensifying. Last week, Grayscale submitted ETF filings for Litecoin, Solana, and three additional cryptocurrencies. 

Among the latest filings, Grayscale’s Litecoin ETF stands the best chance of early approval. Canary Capital also submitted a similar application, which has been acknowledged by the SEC.

Meanwhile, Grayscale has expanded its list of potential future crypto investment products, adding nearly 40 digital assets to its consideration portfolio. 

The firm’s aggressive push into crypto ETFs reflects the increasing demand for regulated, mainstream investment options in the digital asset space.

Bitcoin (BTC) price has remained above $100,000 for the last three days, showing resilience despite recent volatility. A golden cross has formed on BTC’s EMA lines, indicating potential for a bullish breakout if key resistance levels are cleared.

However, BTC has struggled to move past $106,000, and failure to do so could lead to a retest of lower support levels. Whether BTC can push toward $110,000 or face a pullback depends on how it reacts to these critical price zones in the coming days.

BTC Ichimoku Cloud Shows Mixed Signals

The Ichimoku Cloud chart for Bitcoin presents a mixed outlook. The price is currently above the Tenkan-sen (blue line), indicating short-term bullish momentum. In contrast, the Kijun-sen (red line) is slightly lower, suggesting a potential trend continuation if price remains above it.

The Chikou Span (green lagging line) is above most of the past price action, reinforcing the current bullish bias. However, the Kumo (cloud) has a thin structure ahead, meaning there is less support or resistance strength in the near future.

The cloud itself is transitioning from red to green, which typically signals a potential trend shift toward bullish conditions. However, the flat nature of Senkou Span B (red cloud boundary) suggests some hesitation in momentum. If Bitcoin price remains above the cloud, the bullish bias strengthens, but any dip back into the cloud could indicate consolidation or indecision.

The thin future cloud means the trend lacks strong conviction, making the next few candles crucial for determining whether BTC can maintain its upward trajectory.

Bitcoin Whales Dropped to Year-Lows, But It Could Be Recovering

The number of whales holding at least 1,000 BTC dropped significantly between January 22 and January 29, falling from 2,061 to 2,034, the lowest level since February 2024. This steady decline suggested that large holders were reducing their exposure, potentially signaling reduced confidence or profit-taking in the market.

Tracking whale activity is crucial because these large holders often influence market trends. When whales accumulate, it can indicate growing confidence and potential price appreciation, while distribution phases may precede downturns or increased volatility. Their movements provide insights into broader market sentiment and potential trend shifts.

After consecutive drops, the number of whales has started to rise again, currently back at 2,039. While this remains low compared to previous months, it could signal a return of large holders to BTC. If this trend continues, it may indicate renewed accumulation, which could support BTC’s price in the coming days.

BTC Price Prediction: Can BTC Reach $110,000 In February?

BTC’s EMA lines recently formed a golden cross, signaling potential bullish momentum, but the price has struggled to break above $106,000. If Bitcoin makes another attempt and successfully clears this level, it could quickly test $107,000.

A breakout above that resistance could push Bitcoin price toward $108,000, and if buying pressure remains strong, it might even reach $110,000, marking a new all-time high.

On the bearish side, if BTC price fails to hold momentum and the trend reverses, it could drop to $101,296, a key support level. Losing that level could accelerate selling pressure, pushing BTC down to $99,486.

If that support also breaks, BTC might continue its decline toward $95,800, at which point buyers could step in to prevent further downside.

Uniswap launched its v4 upgrade on mainnet, featuring hooks for developer customization, cheaper operations, and more. The release came slightly later than initially anticipated.

However, this upgrade did not fulfill expectations that it would create price momentum for UNI. Its price briefly shot up but immediately crashed back down, and bearish conditions continued.

The Long-Awaited Uniswap v4 for Developers

Uniswap, a popular Ethereum-based decentralized exchange, finally launched its long-awaited v4 upgrade. This upgrade was first announced in June 2023, but a clear timeline for mainnet release was never clearly established.

The upgrade was announced earlier in the week and went live on mainnet today.

“Uniswap v4 is here! v4 turns Uniswap Protocol into a developer platform. Made possible with the introduction of hooks ‒ contracts that allow anyone to customize how pools, swaps, fees, and LP positions interact. Hooks mean unlimited new features that drive deeper liquidity and more swaps,” Uniswap claimed via social media.

Uniswap developers listed several key features of v4, the most significant of which is hooks. The v4 upgrade is also the most affordable incarnation of the protocol, with developers claiming pools will be 99.99% cheaper to create.

It also includes native Ethereum support and was constructed alongside community collaboration.

However, there has been a slight snag in the v4 release: its impact on Uniswap’s UNI token. When v3 launched in 2021, it caused a huge uptick in token value and user activity. The v4 mainnet upgrade caused a momentary spike in the price of UNI, but these gains immediately evaporated.

A few factors may have contributed to this flop. Although UNI reached its 3-year-high in mid-December, the token’s value plummeted a week later.

Some community members hoped that the v4 mainnet release would give Uniswap new forward momentum, but the market didn’t cooperate.

The macroeconomic factor continues to impact UNI’s price, but the v4 upgrade might help Uniswap regain some momentum in the intense DEX market.

Developers consistently showed high confidence in the project, offering record-high bug bounties to anyone who could expose a security flaw. In any event, only time will tell whether v4 can live up to the expectations placed upon it.