United States spot Dogecoin (DOGE) exchange-traded funds (ETFs) captured $2.89 million in net inflows during the week ending September 25, marking their highest-grossing week since inception, according to figures from SoSoValue.
An ETF provides investors with a way to gain exposure to an underlying asset using a standard brokerage account, similar to purchasing equities. This milestone arrived 11 days after Bitwise announced plans to shutter its own Dogecoin investment vehicle.
Dogecoin ETF Inflows Beat the January Record
SoSoValue records indicate that the previous weekly peak stood at approximately $2.59 million, achieved during the week ending January 2. By comparison, the preceding week recorded a mere $284,510 in inflows.
All of the newly introduced capital entered the market across three specific sessions last week: Monday, Tuesday, and Friday.
Grayscale Takes Nearly All the Money as Bitwise Exits
As reported by BeInCrypto on September 10, Bitwise intends to liquidate its Dogecoin ETF, ticker BWOW. With the final trading session scheduled for October 14—roughly three weeks away—the fund carries lifetime net outflows of $1.23 million and total holdings of $801,400.
“Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs,” the issuer stated.
Following that disclosure, total cumulative inflows for Grayscale’s GDOG climbed from $11.7 million to $15.46 million. In contrast, 21Shares’ TDOG saw its figures drop from $1.63 million to $1.03 million.
GDOG attracted the entirety of Friday’s $806,060 inflow, bringing its total holdings to $13.87 million, which accounts for approximately 81% of the sector’s combined assets.
How Big is Dogecoin ETF Demand?
Data from SoSoValue reveals that these funds collectively hold 0.11% of the entire market valuation of Dogecoin. According to BeInCrypto Markets data, DOGE traded close to $0.098, with a total market capitalization near $15.3 billion.
Periods of low activity remain common. Between July 1 and September 18, these funds registered net flows on only nine individual trading days.
The Dogecoin record occurred concurrently with a week in which US spot Bitcoin ETFs amassed $2.39 billion—a sum exceeding the Dogecoin figure by more than 800 times.
Following the October 14 closure, precisely two US spot Dogecoin funds will remain active, with Grayscale capturing every single dollar of Friday’s influx.
Frequently Asked Questions
What was the net inflow for US spot Dogecoin ETFs for the week ending September 25?
US spot Dogecoin ETFs drew $2.89 million in net inflows, setting a new record since their launch.
Why is Bitwise shutting down its Dogecoin fund?
Bitwise decided to liquidate the fund to optimize its product range and meet evolving investor needs. Its last trading day is October 14.
How much of Dogecoin’s total market value do these ETFs hold?
SoSoValue data shows that the funds hold 0.11% of Dogecoin’s total market value.
Which issuer captured the majority of the recent inflows?
Grayscale’s GDOG took nearly all of the money, capturing the entirety of Friday’s $806,060 inflow and holding roughly 81% of the group’s total assets.
