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Grayscale, the world's largest cryptocurrency-focused asset manager, teased its Dogecoin (CRYPTO: DOGE) spot exchange-traded fund with a humorous meme on Wednesday.
The meme video posted on X overlays the viral Shiba Inu image on pet dogs riding an escalator. At the same time, the Grayscale logo is placed over their owners, suggesting Dogecoin’s growing mainstream adoption through the new Grayscale Dogecoin Trust ETF (NYSE:GDOG).
The ETF began trading on the NYSE Arca on Monday, becoming the first investment vehicle in the U.S. to expose investors to the spot price of DOGE tokens held directly in investment accounts.
As of Nov. 26, the Grayscale ETF has seen cumulative inflows of $2.16 million, with total assets under management reaching $3.92 million, according to data from SoSo Value.
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Grayscale ETF was followed by the launch of Bitwise Dogecoin ETF (NYSE:BWOW) on Wednesday, making this week a historic one for the popular memecoin.
The Bitwise ETF saw trading volume of $2.83 million on its first day, double that of what Grayscale’s ETF achieved on its debut.
However, just like Grayscale, the Bitwise ETF failed to record inflows on the first day.
Combined, the two ETFs have $6.48 million in assets under management, accounting for 0.03% of DOGE’s total market value.
Price Action: The new ETFs weighed positively on the memecoin, as DOGE traded up 1.39% to $0.1542 over the last 24 hours, according to data from Benzinga Pro. The coin has gained 4.4% this week.
Grayscale ETF closed 1.60% higher at $18.29 during Wednesday’s regular trading session. Bitwise DOGE ETF closed at $25.51, up 3.1%.
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Photo courtesy: Shutterstock
