Dogecoin ETFs recorded zero net inflows for the July 6 to July 10 period, keeping institutional demand stuck at low levels. The previous week had already posted a negative net flow, and the report notes that a similar weekly decline was last seen in the week ending January 23. Flows have been alternating between flat weeks and only small positive additions, pointing to a cautious stance from investors using regulated fund products to access the memecoin.
Cumulative inflows remain modest against Dogecoin’s market value
According to the data cited, cumulative net inflows into Dogecoin ETFs have reached $11.77 million, while the products currently hold $10.23 million in net assets. That asset base equals just 0.09% of Dogecoin’s current market capitalization. The affected products include offerings from Bitwise, Grayscale, and 21Shares, all of which give investors exposure to Dogecoin without requiring direct spot holdings.
The absence of fresh inflows suggests that institutional interest in Dogecoin-linked funds has not recovered. The report says market participants are waiting for a new narrative or catalyst before capital returns in a more meaningful way.
21Shares plans benchmark pricing change using FTSE data
On the product side, 21Shares, the Switzerland-based crypto exchange-traded product provider, said it will restructure the pricing benchmark for its Dogecoin ETF. The firm plans to license market index data from FTSE in an effort to improve pricing transparency.
The timing is notable. The benchmark adjustment comes while inflows remain stagnant and interest in institutional Dogecoin products stays muted, though the report does not indicate that the change has yet affected fund demand.
Sentiment improves slightly, but fear still dominates
The broader market backdrop remains weak. The report says Dogecoin has lacked a strong narrative in recent weeks, while much of the crypto market continues to trade under pressure, with many altcoins near multi-year lows. At the same time, derivatives markets have shown lower volatility than earlier in the year, with less short-term speculation and more long-duration positioning.
Sentiment data has edged higher, but only slightly. The Crypto Fear and Greed Index rose to 32, which still falls in the “fear” category, after spending more than 40 days in extreme fear. The index has not moved above the neutral 50 level since November. At the time of reporting, Dogecoin was up 1.45% over the previous 24 hours, trading at $0.075.