Grayscale's Dogecoin ETF Debuts With a Whimper While Altcoin ETFs Steal the Show With Fresh Inflows

Key Takeaways

• Grayscale’s caller Dogecoin ETF launched with zero nett flows and muted trading.

• Bitcoin ETFs continued their multi-week outflow streak.

• XRP, Solana, and Ethereum spot ETFs saw fresh inflows, reversing Friday’s broader crypto slump.

Dogecoin’s long-awaited Wall Street debut arrived—and hardly made a sound.

Grayscale’s GDOG, the archetypal U.S. spot Dogecoin (DOGE) exchange-traded money (ETF), opened trading connected Nov. 24 connected NYSE Arca to what tin lone beryllium described arsenic a subdued reception.

The caller money posted zero nett inflows connected motorboat time and generated conscionable $1.41 cardinal successful trading volume—far abbreviated of aboriginal expectations that hovered adjacent $12 million.

The level debut stood successful crisp opposition to the remainder of the altcoin ETF sector, which is showing existent signs of beingness again conscionable arsenic the marketplace attempts a recovery.

With Bitcoin (BTC) inactive struggling nether the unit of weeks of ETF outflows, investors look progressively consenting to rotate into “second-tier” majors.

And connected Monday, that displacement became intolerable to ignore.

Spot Bitcoin ETFs continued to bleed, logging $151 cardinal successful nett outflows Monday, erasing Friday’s little $203 cardinal rebound.

BlackRock’s ascendant IBIT money took the hardest deed with $149 cardinal successful outflows.

Bitwise and Ark Invest besides saw red. The lone agleam spot was Fidelity’s FBTC, which managed $15.49 cardinal successful inflows.

This came adjacent arsenic Bitcoin climbed disconnected yearly lows of $80,000, closing adjacent $88,800 astatine Monday’s U.S. marketplace close.

But organization sentiment remains mixed, and ETF investors are inactive withdrawing superior aft astir $3 cardinal successful combined BTC ETF outflows since aboriginal November.

While the broader crypto marketplace grappled with outflows, altcoin-focused spot ETFs bucked the inclination connected Nov. 24, registering caller inflows crossed Ethereum, Solana, and XRP products. 

If determination was a azygous standout Monday, it was XRP.

Spot XRP ETFs pulled successful $164 million—their largest regular inflow to day and the seventh consecutive time of gains.

All 4 issuers (Bitwise, Canary, Grayscale, and Franklin Templeton) saw net-positive activity, with Grayscale’s GXRP and Franklin’s XRPZ starring astatine implicit $60 cardinal each.

XRP closed the time astir $2.10 aft bouncing disconnected $1.96 support.

Ethereum, which had endured 8 consecutive days of outflows, yet turned greenish again.

Monday saw $96.67 cardinal successful ETH ETF inflows, led by BlackRock’s ETHA with $92.6 million. ETH closed the time adjacent $2,830 arsenic the marketplace stabilized.