Dogecoin Treasury Firm Eyes $200M Raise, Led by Alex Spiro
A new public company is seeking to raise $200 million to invest specifically in Dogecoin (DOGE), according to a Fortune report. The initiative is presented as a Dogecoin treasury vehicle with support from House of Doge, established in early 2025 by the Dogecoin Foundation and based in Miami.
Dogecoin Treasury Fund Details
This entity aims to raise capital as a public vehicle, holding Dogecoin on its balance sheet to provide investors with stock-market exposure to the token without requiring direct ownership.
While still in the initial stages, investor materials and discussions identify Alex Spiro, a partner at Quinn Emanuel Urquhart and Sullivan, as the planned chairman of this new company. Spiro is known for representing high-profile clients, including Elon Musk, Jay-Z, and Alec Baldwin.
Growing Trend of Crypto Treasury Companies
This year has seen an increase in publicly traded companies rebranding to focus on crypto treasuries, raising capital to acquire and hold digital assets. While Dogecoin's adoption lags behind Bitcoin (BTC) and Ether (ETH), it maintains a dedicated following. Companies are increasingly exploring memecoins.
Recent Developments
- February 2025: Neptune Digital Assets acquired 1 million Dogecoin via a strategic derivative purchase at an average price of $0.37 per token, complementing its Bitcoin holdings.
- July 2025: Bit Origin, a Nasdaq-listed company, announced plans to secure up to $500 million in debt and equity financing to establish its DOGE treasury, marking it as the first US-traded company to openly prioritize Dogecoin as its primary balance sheet asset.
Elon Musk's Involvement
Tesla, Musk's electric car company, has also disclosed Dogecoin holdings and accepts DOGE for select merchandise purchases since early 2022. Musk's history with Dogecoin dates back to 2019 when he referred to it as his "fav cryptocurrency," significantly impacting the token's visibility.
Musk's Dogecoin-related posts have often moved markets, leading to scrutiny from investors and regulators. In 2022, a lawsuit alleging market manipulation was dismissed in late 2024, with Alex Spiro leading the defense.