Bitwise Dogecoin ETF Debuts on NYSE with $2.83 Million Trading Volume
Early trading in Grayscale’s GDOG spot Dogecoin ETF saw an 80% drop in inflows within two days, highlighting weaker-than-expected institutional momentum compared to other recent altcoin ETF launches.
Grayscale’s GDOG spot Dogecoin ETF, launched on NYSE Arca on November 24, 2025, initially recorded about $1.8 million in inflows and $1.41 million in trading volume on its first day. However, inflows fell by roughly 80% to $365,420 and volume dropped 78% to $397,620 on the second day, bringing cumulative net inflows to around $2.16 million—well below levels seen in recent altcoin ETF debuts for Solana and XRP. This subdued start raises doubts about meme coins' ability to attract sustained institutional interest, though multiple Dogecoin ETFs, including Bitwise’s BWOW, have now entered the market.
- Spot ETF: An exchange-traded fund holding the underlying asset itself, rather than derivatives, to directly track its market price.
- Assets Under Management (AUM): The total market value of assets that an investment manager or fund controls on behalf of clients.
- Management Fee: A charge paid to the fund’s manager for investment services, typically expressed as a percentage of assets under management.