#美联储降息 Grayscale has issued a management fee of 0.35%, and the market exploded.

Just saw the file submitted by Grayscale - the management fee for the Dogecoin spot ETF is set at 0.35%. To be honest, this number is a bit surprising. You should know that BlackRock's Bitcoin ETF charges 2.5%, and Grayscale has directly offered a steep discount this time.

What is hidden behind low fees?

Institutions are doing this either because they are extremely confident in DOGE and want to capture the market, or they believe this sector can achieve economies of scale. What does 0.35% mean? Traditional financial giants no longer see Dogecoin as a joke. Once the compliance channels are opened, those pension funds and family offices will have a way to allocate as they wish.

Three catalysts are fermenting.

Elon Musk has been making frequent moves, and rumors about the payment function on the X platform have not ceased. It is no longer news that Tesla accepts DOGE as payment, but where it will go next is uncertain. The community is highly excited, as long-time fans have finally waited for the moment of institutional recognition. More importantly, DOGE may become the first meme coin to penetrate the traditional financial system, and this first-mover advantage cannot be overlooked.

On-chain data reveals secrets

In the past week, over 4 billion DOGE have been scooped up by large holders. This is not a volume that retail investors can achieve. If the Grayscale ETF is approved, retirement accounts can buy it, novice users can configure it with one click, and the derivatives market will follow suit—this domino effect may happen faster than expected.

From $0.3 to $1, and then further to $7.2?

The narrative of Dogecoin has been changing. From its initial status as a joke project, to being promoted by Musk, to its listing on Coinbase, and now it has gained a ticket to Wall Street. This path is somewhat similar to the trajectory of Bitcoin back in the day, but with a faster pace and greater volatility.

Some say that when the big dog takes off, will the second and third dogs follow? In 2021, $SHIB indeed benefited from the DOGE boom. Whether this will happen again depends on how much the market sentiment can ignite. However, one thing is certain: the winds are indeed changing.