U.S. spot Dogecoin (DOGE) ETFs drew a record $2.89 million in weekly net inflows, even as Bitwise prepares to close its own Dogecoin fund next month.
Key Points:
- U.S. spot Dogecoin ETFs posted their largest weekly inflow since launch, topping the previous January record.
- Bitwise plans to liquidate BWOW, with its final trading day scheduled for Oct. 14.
- Most of the latest demand has concentrated in Grayscale’s GDOG, which now holds about 81% of the group’s assets.
Dogecoin ETF Inflows
SoSoValue data showed $2.89 million in net inflows for the week ending Sept. 25, above the previous weekly record of about $2.59 million set in the week ending Jan. 2. The prior week brought only $284,510. All of the latest inflows arrived during Monday, Tuesday and Friday sessions.
Bitwise said Sept. 10 that it would liquidate its Dogecoin ETF, BWOW, after determining the fund no longer fit its product lineup. Its last trading day is Oct. 14, while the fund has recorded $1.23 million in lifetime net outflows and holds about $801,400.
“Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs,” the issuer said.
Since that announcement, cumulative net inflows into Grayscale’s GDOG increased from $11.7 million to $15.46 million, while 21Shares’ TDOG declined from $1.63 million to $1.03 million. GDOG also received all $806,060 of Friday’s inflow and now holds $13.87 million, about 81% of total assets across the group.
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Grayscale Demand Shift
The flow pattern shows that the recent increase has concentrated largely in GDOG rather than spreading evenly across U.S. spot Dogecoin products. After Oct. 14, only two of the three existing funds will remain.
The category also remains small compared with the underlying token market. The funds hold about 0.11% of Dogecoin’s total market value, while DOGE traded near $0.098 with a market capitalization of roughly $15.3 billion.
For comparison, U.S. spot Bitcoin (BTC) ETFs attracted $2.39 billion during the same week, more than 800 times the Dogecoin total. That gap shows that the record is significant for the Dogecoin ETF segment, but the absolute flow remains modest beside larger crypto investment products.
Dogecoin ETF trading has generally been quiet, with net flows recorded on just nine trading days between Jul. 1 and Sept. 18. The previous weekly record stood at about $2.59 million, making the latest $2.89 million total a clear break from the category’s recent pattern.
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