The newly launched DOGE ETF reported roughly $1.4M in first-day trading volume, according to analyst Eric Balchunas on X. The update was shared earlier today, noting that the product’s debut failed to generate any meaningful reaction in Dogecoin’s market price.
$GDOG (first Doge ETF) saw $1.4m volume on Day One.. solid for an avg launch but low for a 'first-ever spot' product. Not too surprising tho, we actually made a rhyme a while ago predicting this: 'The further away you get from BTC, the less asset there will be.' pic.twitter.com/ermlOcID1J
— Eric Balchunas (@EricBalchunas) November 25, 2025
The modest turnover suggests limited initial demand compared with other recent crypto-linked products. Traders tracking the launch noted that DOGE’s price remained broadly unchanged during the session, signaling muted enthusiasm despite the token’s large retail following. Market participants also pointed out that the ETF’s early performance could influence short-term sentiment, particularly among investors expecting stronger inflows.
For now, attention shifts to whether volume stabilizes or improves in the coming days, which may determine how the market interprets the ETF’s relevance. Analysts will also watch for updates from the issuer regarding liquidity, creation units, or changes in trading activity as the product gains traction.
Source: Eric Balchunas on X.
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