US spot Dogecoin (DOGE) exchange-traded funds attracted $2.89 million in net inflows during the week ending September 25, marking their largest weekly inflow since launch, according to SoSoValue data.
The inflows surpassed the previous record of approximately $2.59 million set in the week ending January 2. All new capital arrived across three trading sessions: Monday, Tuesday, and Friday of the week.
Bitwise Fund Liquidation Backdrop
The record inflows came 11 days after Bitwise announced it would liquidate its Dogecoin ETF, known as BWOW. The fund's final trading day is scheduled for October 14. Bitwise stated it made the decision as it continues to optimize its product range to meet evolving investor needs. The fund has experienced lifetime net outflows of $1.23 million and currently holds $801,400.
Grayscale Captures Majority of New Flows
Since Bitwise's announcement on September 10, Grayscale's GDOG fund saw cumulative inflows rise from $11.7 million to $15.46 million. The fund received all $806,060 of Friday's inflows and now holds approximately $13.87 million, representing about 81% of the group's total assets.
In contrast, 21Shares' TDOG fund declined from $1.63 million to $1.03 million during the same period.
Scale of ETF Demand
Dogecoin ETFs currently hold 0.11% of Dogecoin's total market value. At the time of reporting, DOGE traded near $0.098 with a market cap of approximately $15.3 billion.
Activity in the funds remains sporadic. Between July 1 and September 18, the ETFs posted net flows on only nine trading days.
The Dogecoin record occurred in the same week US spot Bitcoin ETFs pulled in $2.39 billion, more than 800 times the Dogecoin figure. Following October 14, two US spot Dogecoin ETFs will remain operational.
