Grayscale’s Spot Dogecoin ETF Posts Only $1.4M in First-Day Volume
Grayscale’s spot Dogecoin ETF (GDOG) opened with only $1.4 million in trading volume on its first day, a considerably weaker start than analysts had forecast. The low turnout underscores a softer-than-expected reception for a high-profile product tied to a major meme coin, despite broad interest in spot crypto ETFs over the past year. The muted debut matters because it signals limited immediate institutional or retail demand for a regulated DOGE access vehicle, and may temper hopes for quick liquidity inflows. Market participants will watch whether volume picks up in subsequent sessions or if issuers adjust distribution and marketing strategies. The result could influence future launches of meme-coin ETFs and the pace of institutional adoption for tokens like DOGE.