Dogecoin’s extremely anticipated ETF debut has taken an sudden sluggish flip. What started as a powerful opening for the brand new GDOG fund shortly light as inflows collapsed in dramatic style. The launch was anticipated to offer Dogecoin a significant enhance by opening the door for contemporary institutional participation. As an alternative, the alternative has occurred, and the Dogecoin ETF has seen its inflows collapse by 80%.
Spot Dogecoin ETF Simply Suffered An 80% Crash In Inflows
The launch of Grayscale Investments’ first-ever spot Dogecoin ETF underneath the ticker GDOG was hailed as a monumental second, the primary time Dogecoin could be accessible to on a regular basis buyers by way of a standard brokerage. On November 24, 2025, the product went reside on the NYSE Arca, changing Grayscale’s current DOGE belief right into a publicly traded ETF.
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Nonetheless, simply 48 hours after launch, the thrill seems to have cooled down. Though the primary day reportedly pulled in roughly $1.8 million in inflows, the second day noticed solely about $365,420, a collapse of about 80% in early momentum. This has pushed the cumulative internet inflows to round $2.16 million, however this can be a modest determine for what many anticipated could be a serious catalyst for Dogecoin.
Expectations for GDOG had been excessive. Observers pointed to prior early influx successes with crypto ETFs, notably these for Bitcoin, Ethereum, and extra not too long ago Solana, which collectively helped push capital inflows at a big scale. To place this into comparability, Spot Solana ETFs, which first went reside on October 18, raked in $117.39 million in inflows within the first two days of buying and selling. The not too long ago launched Spot XRP ETFs additionally noticed inflows of $243.05 million on their first day of buying and selling.
In line with knowledge from SoSoValue, Dogecoin ETF buying and selling quantity for the primary day was simply $1.41 million, far beneath many projections. The momentum light even quicker on day two, with quantity falling by roughly 78% to $397,620.
What It Means for DOGE And The Meme-Coin Area
The gentle begin of GDOG raises questions on whether or not meme cash like DOGE can really thrive underneath conventional monetary frameworks. On one hand, the ETF itemizing is a milestone: a token born as a joke is now buying and selling alongside conventional property on main exchanges. On the opposite, the weak capital flows trace at limits to demand amongst institutional buyers.
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Nonetheless, it’s nonetheless too early to conclude. The long-term relevance of DOGE ETFs can solely be judged as soon as the market has had time to digest these new merchandise. A profitable DOGE ETF may open the door to different meme-coin funds (some recommend even an ETF for Shiba Inu might comply with).
Along with Grayscale, different asset managers have Spot Dogecoin ETFs lined up and able to hit the market. Bitwise launched its Dogecoin ETF on Wednesday following Grayscale’s debut, however early influx numbers are but to return in. The asset supervisor famous they weren’t anticipating to launch this product however are solely doing so as a result of the DOGE neighborhood requested it.
Featured picture created with Dall.E, chart from Tradingview.com
