Elon Musk's Lawyer to Lead New $200M Dogecoin Fund

Elon Musk's Lawyer to Lead New $200M Dogecoin Fund

A new step in the institutionalization of the memecoin: amid the growing interest of major players in cryptocurrencies, a public fund for investments in Dogecoin is being created. This opens up new opportunities for traders and investors to access DOGE without directly owning the tokens.
Alex Spiro, a prominent lawyer and longtime associate of Elon Musk, will lead a $200 million investment fund focused on creating a “Dogecoin treasury.” The project is overseen by the House of Doge , a structure established by the Dogecoin Foundation in early 2025, and is positioned as the first step toward turning the joke token into a corporate finance tool.

The Miami-based Doge House has quickly cemented its reputation as a hub for the institutionalization of Dogecoin. The new fund offers investors a way to add DOGE to their portfolios without having to hold and manage the tokens themselves. It’s essentially a “corporate bridge” between traditional finance and the memecoin, which has already become a cultural phenomenon.

Elon Musk's Lawyer to Lead New $200M Dogecoin Fund

The trend towards corporate adoption of DOGE

The creation of the fund coincides with a wave of initiatives to include digital assets on the balance sheets of public companies.

In February, Canada's Neptune Digital Assets acquired 1 million DOGE at $0.37, while simultaneously expanding its portfolio with bitcoin and derivatives.

In July, Nasdaq-listed Bit Origin announced plans to raise $500 million to build a balance sheet focused on DOGE, becoming the first U.S. public company with such a strategy.

Tesla also plays a key role: Musk’s company accepts DOGE for some goods, cementing the token’s status in the public consciousness. While the exact amount of reserves is not disclosed, the fact that Dogecoin is publicly accepted has become a catalyst for market interest.

The Musk Factor: Driver or Threat?

Elon Musk's relationship with Dogecoin has always been ambivalent. His 2019 post calling DOGE his "favorite cryptocurrency" gave the coin a boost in popularity. However, in 2021, an appearance on SNL where Musk called DOGE a "scam" caused the price to crash after a meteoric rise.

However, his new role as his lawyer for the $200 million fund shows that Musk and his circle's interest in Dogecoin goes beyond memes and social media buzz.

Practical benefits for traders

The creation of the Dogecoin fund has direct implications for private and institutional players:

Spot Trading: Increased interest in DOGE will increase liquidity on major exchanges, allowing traders to enter and exit positions more quickly without much slippage.

Arbitrage. The emergence of new stock instruments can cause price discrepancies between markets (for example, between stock derivatives on DOGE and spot rates on crypto exchanges). This is an opportunity for arbitrage strategies.

Options and derivatives. As the fund's capitalization grows, the product line is expected to expand, including options contracts on DOGE. This will give traders more opportunities to hedge risks or speculate on volatility.

Long-term investments. For conservative players, the fund lowers the entry barriers: now you can invest in Dogecoin not through a crypto exchange, but through the stock market, where the risk of storing tokens is assumed by an institutional structure.
The launch of the fund is expected to increase DOGE's liquidity and capitalization. If the corporate adoption trend continues, Dogecoin will be able to gain a foothold in the same row with "serious" cryptocurrencies - from BTC to ETH. At the same time, volatility will remain high, and the influence of public figures like Musk will continue to shape short-term impulses.



By Claire Whitmore
September 01, 2025

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