Dogecoin ETFs Hit Record Week After Bitwise Exit Plans. Will Price React?

US spot Dogecoin (DOGE) exchange-traded funds (ETFs) drew $2.89 million in net inflows in the week ending September 25. That is their largest week since launch, according to SoSoValue data. An ETF lets investors buy exposure to an asset through a normal brokerage account, much like buying a stock. The record came 11 days after Bitwise said it would shut its own Dogecoin fund. Dogecoin ETF Inflows Beat the January Record The previous weekly high was about $2.59 million, set in the week ending January 2, SoSoValue data shows. The week before this one brought in only $284,510. All of the new money arrived in three sessions last week. Monday, Tuesday, and Friday. Dogecoin ETF Weekly Flows. Source: SoSoValue Grayscale Takes Nearly All the Money as Bitwise Exits BeInCrypto reported on September 10 that Bitwise will liquidate its Dogecoin ETF, BWOW. Its last trading day is October 14, barely three weeks away. The fund has lifetime net outflows of $1.23 million and holds $801,400. Dogecoin ETF Issuers. Source: SoSoValue Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs, the issuer stated. Since that announcement, cumulative inflows into Grayscales GDOG rose from $11.7 million to $15.46 million. Meanwhile, 21Shares TDOG fell from $1.63 million to $1.03 million. GDOG took all of Fridays $806,060. It now holds $13.87 million, or about 81% of the groups assets. How Big is Dogecoin ETF Demand? The funds hold 0.11% of Dogecoins total market value, SoSoValue data shows. DOGE traded near $0.098, with a market cap of about $15.3 billion, according to BeInCrypto Markets data. DOGE Price Performance. Source: BeInCrypto Quiet days are the norm. Between July 1 and September 18, the funds posted net flows on just nine trading days. The Dogecoin record also landed in the same week US spot Bitcoin ETFs pulled in $2.39 billion. That total is more than 800 times the Dogecoin figure. After October 14, two US spot Dogecoin funds will remain. Grayscale accounted for every dollar of Fridays inflow. Read the article at BeInCrypto