Dogecoin ETFs Surge After Bitwise Exit Plans, Grayscale Rides Wave

US spot Dogecoin (DOGE) exchange-traded funds (ETFs) saw their largest week since launch, drawing in $2.89 million in net inflows. This figure surpassed the previous high of $2.59 million set on January 2. The record week came just 11 days after Bitwise announced it would shut down its own Dogecoin fund, BWOW.

The influx of money arrived in three sessions: Monday, Tuesday, and Friday. Grayscale's GDOG ETF took the majority of the inflows, rising from $11.7 million to $15.46 million since Bitwise's announcement. In contrast, 21Shares' TDOG fund fell from $1.63 million to $1.03 million.

Grayscale accounted for every dollar of Friday's $806,060 inflow and now holds around 81% of the group's assets. The funds hold a combined total of 0.11% of Dogecoin's market value, with DOGE trading near $0.098 and having a market cap of approximately $15.3 billion.