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Spot Dogecoin ETF Inflows Plummet 80% After Initial Launch
The debut of Dogecoin's [ETF](https://holder.io/coins/doge/) under the ticker GDOG has seen a sharp decline in inflows, dropping by 80% shortly after launch. Initially, it drew $1.8 million but fell to around $365,420 on the second day, bringing total inflows to approximately $2.16 million. This contrasts sharply with the successful early inflows of other crypto ETFs like Bitcoin and Ethereum.
Spot Dogecoin ETF Performance
- Launched by Grayscale Investments on November 24, 2025, as a spot ETF on NYSE Arca.
- The first-day trading volume was $1.41 million, which dropped by 78% to $397,620 on the second day.
- Comparatively, Spot Solana and XRP ETFs saw significantly higher inflows shortly after their launches.
Implications for Dogecoin and Meme Coins
- The GDOG listing marks a milestone for meme coins entering traditional finance but reveals potential limits in institutional demand.
- The future success of DOGE ETFs could pave the way for other meme-coin funds, including a possible Shiba Inu ETF.
Bitwise also launched its Dogecoin ETF following Grayscale's debut, responding to community demand, though initial inflow data is pending.
