Grayscale Dogecoin ETF launch sees lower volume than analysts projected
Grayscale’s spot dogecoin ETF opened on NYSE Arca with about $1.4m in first-day volume, lagging analyst forecasts and trailing recent crypto ETF launches.
- The ETF started trading on NYSE Arca with roughly $1.4 million in debut volume and about 94,700 shares outstanding.
- Grayscale set a 0.35% management fee but temporarily waived it, resulting in a zero expense ratio until assets hit a threshold or three months pass.
- The fund’s muted launch trails XRP and Solana ETF debuts, as analysts watch fee incentives, dogecoin’s price, and upcoming rival products like Bitwise’s ETF
Grayscale’s spot Dogecoin exchange-traded fund commenced trading on NYSE Arca with modest volume, attracting approximately $1.4 million on its debut, according to market data.
The launch fell short of earlier projections by market analysts. A Bloomberg analyst had forecast significantly higher opening-day volume, though the fund’s actual trading figures did not reach those levels, according to reports.
Grayscale Dogecoin ETF begins trading
Grayscale ‘s regulatory filings indicate the ETF began trading with Dogecoin ( DOGE ) holdings and approximately 94,700 shares outstanding. The fund carries a management fee of 0.35 percent, though the sponsor has waived that charge, resulting in a zero expense ratio until the fund reaches a specified asset threshold or for the first three months, whichever occurs first.
The Dogecoin ETF’s debut volume trailed that of other recently launched cryptocurrency ETFs, according to market tracking data. Exchange-traded funds holding XRP ( XRP ) and Solana ( SOL ) attracted stronger initial inflows during their respective launches, the data showed.
Several factors will determine the fund’s trajectory in coming weeks, according to market observers. These include the impact of the fee waiver on asset gathering, Dogecoin’s price movement as additional products enter the market, and potential flow changes when competing Dogecoin ETFs launch, including a planned product from Bitwise.
Analysts are monitoring creation and redemption activity as well as order book data to assess actual demand for the product, according to industry reports.
Dogecoin’s spot market showed limited price movement following the ETF listing, according to trading data. The fund’s subdued debut occurs during a period of multiple cryptocurrency ETF launches, with additional competing products expected in the near term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana Update: Bearish Pattern and Weakening Support Point to Solana's $99 Challenge
- Solana's SOL price faces bearish pressure, with technical indicators and on-chain metrics suggesting a potential drop to $99 if key support levels fail. - ETF inflows remain uneven, with Bitwise's BSOL ETF dominating 89% of assets but recent outflows signaling institutional caution amid weak retail demand. - The Upbit hot wallet breach triggered liquidity disruptions, while Nansen data shows 20% monthly declines in TVL, active addresses, and network fees. - Technical analysis highlights a bear flag patte
Crypto Market Caught Between Surrender and Careful Buying as Underlying Fear Dynamics Change
- Crypto Fear & Greed Index rose to 19/100 from 15/100, remaining in "extreme fear" despite broader equity market pessimism. - Structural downturn driven by leverage, liquidations, and retail capitulation, with social media bullish sentiment at 2-year lows. - Unverified $15B Bitcoin breach and institutional moves (Grayscale ETF, Bybit India) highlight safety concerns and long-term confidence. - KAS, FLR, SKY show modest gains amid "altcoin season," but isolated rallies contrast with fragile market-wide cau
Solana News Update: Changing Risk Preferences Lead to Outflows from Solana ETFs
- Solana ETFs recorded first outflows since launch, with 21Shares TSOL losing $34.37M in single-day withdrawals. - Price held near $141 despite bearish technical indicators and 20% drop in network TVL to $9.1B. - Institutional holdings remain strong at 6.83M tokens ($964M), but Upbit hack amplified short-term volatility. - Market recovery hinges on Fed's December rate decision and Solana's ability to stabilize key metrics.
Bitcoin News Update: Optimistic Long Positions and Pessimistic Shorts Clash, Intensifying Cryptocurrency Market Fluctuations
- Hyperwhale shorted 1,000 BTC at $89,765 with 3x leverage, earning $10.6M but facing $1.16M losses as BTC trades at $106,443. - Aggressive bullish bets on Hyperliquid include a 20x $30M BTC long and $92.87M in leveraged longs, contrasting with $343.89M in 24-hour short liquidations. - BTC's RSI at 66 and 15/1 buy/sell signals reinforce short-term bullishness, while $5M POPCAT manipulation risks highlight exchange vulnerabilities. - LeverageShares' 3x BTC/ETH ETFs and compounding risks in products like UDO
Trending news
MoreCrypto prices
More
