Dogecoin ETF GDOG’s debut is less than impressive, attracting only $1.4 million in funds

Jakarta, Pintu News – The much-anticipated debut of the Dogecoin ETF turned out to be underwhelming. According to trading records and company filings, Grayscale’s new Dogecoin spot ETF with ticker GDOG only managed to attract $1.4 million in trading volume on its first day on NYSE Arca, a figure far below expectations.

A Less Than Memorable Launch

The launch of the ETF fell short of the more optimistic predictions of some analysts. Eric Balchunas, an analyst from Bloomberg, previously predicted that the first day’s trading volume could reach $10-12 million. However, the reality was far from this estimate, reaching only $1.4 million.

Grayscale reported that the ETF started out with about 11 million Dogecoin (DOGE) and about 94,700 shares outstanding. With assets under management of about $1.7 million at the time trading began, these results indicate lower than expected interest.

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Comparison with Other Altcoin ETFs

Compared to other recently launched altcoin ETFs, GDOG appears less attractive. ETFs based on Ripple (XRP) and Solana (SOL) for example, managed to attract faster fund flows on their first day.

This suggests that investors may prefer certain tokens rather than opting for investments in regulated meme-coins. The market showed mixed reactions to the launch of this new product. While there was little price movement in the Dogecoin spot market, which was trading at around $0.15 when the ETF opened, no significant surge in demand was seen.

What Investors Are Watching Next

Some of the things investors are concerned about is whether the management fee waiver will help this ETF gather more assets in the next few weeks. In addition, Dogecoin’s market price behavior after more similar products are launched is also under the spotlight.

Market watchers will also pay attention to short-term creation and redemption activity and order books around ETFs to assess real demand as opposed to headline-grabbing interest.

The next few weeks, especially while the fee waiver is still in place and as competing ETFs begin to launch, will be key to see if these funds can expand their reach or remain as quiet debuts in a busy ETF calendar.

Conclusion

Attracting just $1.4 million on its first day, the debut of the GDOG Dogecoin ETF sends a clear signal that a mere listing does not guarantee large capital flows. The performance of this ETF in the coming weeks will go a long way in determining the future direction and success of this cryptocurrency-based financial product.

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FAQ

Q1: What was the trading volume of Dogecoin GDOG ETF on the first day?

A1: The trading volume of Dogecoin ETF GDOG on the first day was $1.4 million.

Q2: How does GDOG’s performance compare to other altcoin ETFs?

A2: Ripple (XRP) and Solana (SOL) based ETFs showed stronger initial demand compared to GDOG.

Q3: How much is the management fee charged by Grayscale for GDOG ETF?

A3: Grayscale sets a management fee of 0.35% for the GDOG ETF, but this fee is waived until the ETF reaches $1 billion in assets or during the first three months.

Q4: How has the market reacted to the launch of the GDOG ETF?

A4: The market showed little movement in the price of Dogecoin, which was trading around $0.15 when the ETF opened, showing limited reaction.

Q5: What will be the focus of market watchers on GDOG ETF going forward?

A5: Market watchers will focus on whether fee waivers can boost ETF assets, as well as Dogecoin’s price behavior and ETF creation and redemption activity.

Reference

• NewsBTC. Dogecoin ETF Debut Fails to Impress, Taking in Only $1.4 Million. Accessed on November 28, 2025