The debut of the Grayscale DOGE ETF was cold; what are the reasons behind it?Author: Blockchain Knight
On November 24, the Grayscale Dogecoin ETF (GDOG) was listed on the NYSE Arca but faced a "cold opening."
On the first day, the trading volume in the secondary market was only 1.41 million USD, far below the 12 million USD predicted by Bloomberg analysts, and the net inflow of funds was 0, indicating no new capital was injected into the ecosystem. This performance clearly reveals that the market's demand for regulated products has been seriously overestimated.
The cooling of GDOG forms a stark contrast with the successful cases during the same period. The Solana ETF (BSOL), launched in late October, attracted $200 million in its first week, primarily due to its practical attribute of staking rewards, providing a difficult-to-access investment mechanism for traditional investors.
GDOG only provides exposure to social sentiment, as an ordinary spot product, with its underlying asset being Robi.
PANews·11-26 07:10