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.
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.
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.
“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 Grayscale’s 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 Friday’s $806,060. It now holds $13.87 million, or about 81% of the group’s assets.
The funds hold 0.11% of Dogecoin’s 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.
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 Friday’s inflow.
The post Dogecoin ETFs Hit Record Week After Bitwise Exit Plans. Will Price React? appeared first on BeInCrypto.
Brandt’s Sept. 27 post included a long-term XRP chart but did not confirm a position or set a timetable for a move.
Veteran trader Peter Brandt sees a potential XRP bet in its long-term price pattern, even as he questions unquestioning loyalty to the token. His Sept.
The alleged operation used as many as 200 wallets per launch and acquired more than 70% of each token’s supply.
The exposure of this syndicate underscores the urgent need for enhanced transparency and regulation in decentralized finance to protect investors. The post Wazz traces 53
Blockchain Bodega is here and you know the vibes. We’re at the intersection of hip-hop culture and web3, exploring this new digital frontier. Who better to guide you through these uncharted lanes than Ock Chain – The Bitcoin Boss and the Consensus Corner Boys?
Ock Chain doesn’t just cook up random details about cryptocurrency; he lives it. Ock’s been deep in the game since Bitcoin was just a baby.
And let’s not forget about the Consensus Corner Boys. They’re our skilled crew of blockchain enthusiasts. They’re here to educate, entertain, and enlighten.
Welcome to Blockchain Bodega!
Copyright © 2023 Blockchain Bodega. All rights reserved.
