U.S. spot Dogecoin exchange-traded funds recorded a net inflow of $2.89 million in the week ended Sept. 25, the highest weekly total since the products launched, according to SoSoValue data cited by Techub and BeInCrypto. The previous weekly record was $2.59 million in the week ended Jan. 2.
The flow shift came after Bitwise said it will liquidate its Dogecoin ETF, BWOW, on Oct. 14. Since that announcement was made on Sept. 10, money has mainly moved into Grayscale’s Dogecoin ETF, GDOG. Over that period, GDOG’s cumulative net inflows rose from $11.70 million to $15.46 million.
GDOG now holds about $13.87 million in assets, accounting for 81% of total assets in the U.S. spot Dogecoin ETF category. Even so, assets held by Dogecoin ETFs still represent only 0.11% of Dogecoin’s total market capitalization. For comparison, U.S. spot Bitcoin ETFs logged $2.39 billion in net inflows during the same week, more than 800 times the amount that flowed into Dogecoin ETFs.
U.S. spot Dogecoin ETFs took in $2.89 million in net inflows in the week ended Sept. 25, setting a new weekly record since launch, according to SoSoValue data cited in the Techub report.
The previous high was $2.59 million in the week ended Jan. 2.
Flows moved mainly to Grayscale after BWOW liquidation notice
After Bitwise said it will liquidate its Dogecoin ETF, BWOW, on Oct. 14, most of the money moved to Grayscale. Since that announcement on Sept. 10, cumulative net inflows into Grayscale Dogecoin ETF GDOG increased from $11.70 million to $15.46 million.
GDOG currently holds about $13.87 million in assets, equal to 81% of total assets in the category.
Dogecoin ETF assets remain small relative to Bitcoin ETFs
Data also showed that assets held by Dogecoin ETFs account for only 0.11% of Dogecoin’s total market capitalization. In the same week, U.S. spot Bitcoin ETFs posted $2.39 billion in net inflows, more than 800 times the amount recorded by Dogecoin ETFs.
The figures were reported by BeInCrypto based on SoSoValue data.
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