Grayscale Dogecoin ETF sees softer debut
Grayscale’s new spot Dogecoin ETF opened trading on NYSE Arca with roughly 1.4 million dollars in first-day volume, a level notably lower than what analysts had anticipated. Early forecasts suggested stronger demand, but trading activity did not match those projections.
According to Grayscale’s filings, the ETF launched with Dogecoin holdings and about 94,700 shares outstanding. The management fee is listed at 0.35 percent, although the sponsor has temporarily waived the charge, resulting in a zero expense ratio until the fund reaches a set asset threshold or three months pass.
Launch trails XRP and Solana ETF performance
Market data shows that the Dogecoin fund’s debut volume lagged behind the first-day activity of recently launched XRP and Solana ETFs, both of which attracted stronger inflows and more active trading.
Analysts say several factors will shape the ETF’s performance in the coming weeks. These include the effect of the temporary fee waiver on attracting assets, Dogecoin’s spot price behavior, and competition from upcoming Dogecoin ETFs, including a planned offering from Bitwise.
Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday. $GLNK coming soon as well, week after I think pic.twitter.com/c6nKUeDrtI
— Eric Balchunas (@EricBalchunas) November 21, 2025
Market observers are tracking order books, creations and redemptions, and early investor behavior to gauge actual demand.
Dogecoin price shows little reaction
Dogecoin’s spot price saw minimal movement following the ETF listing. The subdued response comes during a period of frequent cryptocurrency ETF launches, with additional products expected to enter the market soon.
