Dogecoin ETFs Set Weekly Inflow Record at $2.89 Million

U.S. spot Dogecoin exchange-traded funds drew $2.89 million in net inflows in the week ending September 25, setting a record since their launch and surpassing the previous weekly high of about $2.59 million, recorded in the week ending January 2. Dogecoin was trading near $0.098 as the funds posted the increase, according to reported market data. The inflows came 11 days after Bitwise said it would liquidate its Dogecoin fund, BWOW. The fund’s last trading day is reported as October 14. The planned closure leaves three funds operating for now; if the liquidation proceeds as announced, two U.S. spot Dogecoin funds will remain afterward. Flows have been concentrated among the remaining products. Since the closure announcement, cumulative inflows into Grayscale’s GDOG rose from $11.7 million to $15.46 million, while 21Shares’ TDOG fell from $1.63 million to $1.03 million. GDOG received all of the reported $806,060 inflow on Friday and held about 81% of the group’s assets, according to the reported figures. The weekly record therefore does not by itself show that demand was distributed across funds. The reported ETF inflows coincided with a claim of large-holder buying.