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

Key takeaways

• Grayscale’s new Dogecoin ETF has launched with Net inflows are zero And silent trading.

• Bitcoin ETFs continued a multi-week outflow streak.

• ETFs witnessed in XRP, Solana, and Ethereum Fresh flowsreversing the broader decline in cryptocurrencies on Friday.

The long-awaited Dogecoin I arrived on Wall Street for the first time-And he barely made a sound.

GDOG for grayscaleDogecoin’s first US spot exchange-traded fund (ETF), Dogecoin (DOGE), opened trading on November 24 on NYSE Arca to what can only be described as a poor reception.

The new fund recorded zero net inflows on launch day and generated trading volume of just $1.41 million – well below early expectations of close to $12 million.

The flat debut was in sharp contrast to the rest Altcoin ETFs sectorWhich is showing real signs of life again as the market tries to recover.

As Bitcoin (BTC) continues to suffer under the pressure of weeks of ETF outflows, investors appear increasingly willing to turn to “second-tier” major currencies.

On Monday, that shift became impossible to ignore.

Spot Bitcoin ETFs continued to bleed, recording $151 million in net outflows on Monday, erasing Friday’s brief $203 million rebound.

BlackRock’s dominant IBIT fund The company took the biggest hit, with outflows of $149 million.

Bitwise and Ark Invest also saw red. The only bright spot was Fidelity’s FBTC, which managed $15.49 million in inflows.

This came up Bitcoin It rose from yearly lows of $80,000, closing near $88,800 at the close of the US market on Monday.

But institutional sentiment remains mixed, and ETF investors are still withdrawing capital following nearly $3 billion in combined outflows of Bitcoin ETFs since early November.

While the broader cryptocurrency market grapples with outflows, altcoin-focused spot ETFs bucked the trend on November 24, recording new inflows across Ethereum, Solana, and Ripple products.

If there is a special Monday, it is XRP.

XRP ETFs It withdrew $164 million – its largest daily flow to date and the seventh straight day of gains.

All four issuers (Bitwise, Canary, Grayscale, and Franklin Templeton) saw net positive activity, with Grayscale’s GXRP and Franklin’s XRPZ leading by more than $60 million each.

XRP closed the day near $2.10 after bouncing off the support at $1.96.

After eight consecutive days of flows, Ethereum turned green again.

Monday saw $96.67 million in inflows from the ETH ETF, led by BlackRock’s ETHA with $92.6 million. ETH closed the day near $2,830 as the market stabilized.

Although ETH is still well below its highs from earlier this year, two days in a row of inflows suggest institutions are stepping back cautiously.

Solana’s ETF’s momentum continues to challenge the broader market.

Spot SOL ETFs It attracted $57.79 million on Monday, marking 20 days of consecutive inflows — a record for any altcoin ETF to date.

Bitwise’s BSOL advanced $39.7 million, while Fidelity’s FSOL added $9.7 million.

SOL closed just above $137 after recovering from weekend lows below $130.

Despite strong ETF inflows, the SOL is still down nearly 20% this month.

Even with the hype on day one, the Dogecoin ETF recorded no inflows at all, and neither did the spot Litecoin ETF.

It is possible that GDOG will follow a similar path to early Solana ETF activity, which started quietly before rallying. But at the moment the appetite seems limited.

Dogecoin’s underlying asset closed Monday near $0.146, little changed from pre-launch levels.

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