Bitwise Dogecoin ETF Debut Imminent After Quiet Start for Grayscale DOGE Fund
Analysis
Price Impact
MedThe launch of a second dogecoin etf (bitwise bwow) provides further regulated access for investors, which is fundamentally bullish. however, the initial trading volumes for grayscale's gdog etf were quieter than anticipated, suggesting less immediate market frenzy compared to other altcoin etfs like xrp or sol.
Trustworthiness
HighThe information is based on official sec filings, nyse arca certifications, and direct announcements from bitwise, corroborated by reputable financial news outlets and an etf analyst from bloomberg.
Price Direction
NeutralWhile the availability of more investment vehicles is a long-term positive for dogecoin's legitimacy and accessibility, the immediate market reaction to the first doge etf (gdog) was muted. coupled with doge's recent price depreciation and broader crypto sell-off, the new etf might only provide a moderate, rather than explosive, uplift in the short term. increased investor options could lead to gradual accumulation.
Time Effect
LongEtfs provide regulated pathways for capital inflow. while initial volumes may be modest, the continued availability of such products tends to attract a wider range of investors and institutional capital over time, contributing to more sustained demand and price stability in the long run.
Original Article:
Article Content:
In brief The Bitwise Dogecoin (DOGE) ETF, BWOW, was certified by NYSE Arca on Tuesday. The ETF is expected to begin trading soon, joining Grayscale's spot Dogecoin ETF launch from Monday. Investors now have more options to gain exposure to the leading meme coin, though volumes pale in comparison to XRP and SOL ETFs. Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE Another Dogecoin (DOGE) ETF is expected to hit the market soon after NYSE Arca approved the listing and registration of Bitwise’s Dogecoin ETF, BWOW, according to an SEC filing from Tuesday. BWOW, registered under the Securities Act of 1933, will grant investors exposure to the leading meme coin, with assets to be custodied by Coinbase Custody Trust. The certification comes just a day after Grayscale launched its spot Dogecoin ETF —GDOG—which earned around $1.4 million in daily trading volume. The Bitwise Dogecoin ETF (ticker: $BWOW ). Coming soon. pic.twitter.com/XyQ7NtS7kU — Bitwise (@BitwiseInvest) November 24, 2025 Though “solid,” according to Bloomberg ETF analyst Eric Balchunas, it was a much quieter start than his initial volume prediction of $12 million in day-one trading. “Solid for an average launch but low for a 'first-ever spot' product,” Balchunas said of GDOG’s first day of trading in a post on X . “Not too surprising [though], we actually made a rhyme a while ago predicting this: 'The further away you get from BTC, the less asset there will be.'” While the DOGE ETF launches add to a flurry of altcoin ETFs, the muted start for GDOG pales in comparison to recently approved exchange traded products for Solana and XRP. Earlier this month, Canary Capital’s spot XRP fund produced more than $58 million in trading volume on its debut, setting the first-day ETF record for this year. That barely edged out BSOL—a Solana staking ETF from Bitwise—which saw around $57 million in trading volume on day one in October. Nevertheless, fund issuers continue to find ways to give investors access to Dogecoin. Last week, 21Shares unveiled TXXD —a 2x leveraged long DOGE ETF that gives traders on the Nasdaq the opportunity to earn around 2x the daily performance of the token. DOGE, which remains the 10th largest crypto asset by market capitalization, has not been immune to the recent crypto sell-off. The token is down more than 24% in the last month and recently changed hands at $0.15—79% off its 2021 all-time high of $0.73. A representative for Bitwise did not immediately respond to Decrypt’s request for comment. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!