Dogecoin ETFs have faced significant challenges since their debut last month, struggling to attract institutional interest and maintain robust trading volumes. Recent data reveals a stark contrast in performance compared to other cryptocurrency ETFs, raising questions about the future of these products. Experts in the publication emphasize that the lack of enthusiasm from investors could hinder the growth of Dogecoin-related financial products.
Trading Volume and Net Inflows of DOGE ETFs
As of December 10, the Grayscale and Bitwise DOGE ETFs reported a trading volume of only 125,100, with total net inflows reaching 171,920. This marks a notable decline in demand, particularly since December 2, when trading volumes peaked at 109 million. Over the 12 trading days since their launch, the Dogecoin ETFs have only achieved seven-figure trading volumes on three occasions.
Comparison with Grayscale's Chainlink ETF
In contrast, Grayscale's Chainlink ETF, which launched simultaneously, has demonstrated значительно stronger performance. The disparity in interest may stem from the perception of Dogecoin as a meme coin, lacking substantial utility in the market. Bloomberg analyst Eric Balchunas emphasized this point, suggesting that the low demand for DOGE ETFs reflects broader skepticism among institutional investors.
As Dogecoin ETFs struggle to gain traction, American Bitcoin Corp is making headlines with its growing Bitcoin reserves, which may reshape its market strategy. For more details, see strategic growth.
