Dogecoin ETFs are losing momentum in the crypto world. According to data from the SoSoValue platform, on Monday the total trading value (TVT) of these funds fell to a record low of $142,000 – the lowest since their debut. This is a significant setback compared with late November, when TVT exceeded $3.23 million.
Even so, Dogecoin itself remains popular on the broader market. Over the past 24 hours it recorded more than $1.1 billion in spot trading and a market capitalization of $22.6 billion, according to CoinGecko. The difference suggests that investors prefer to trade DOGE directly on exchanges rather than through ETFs.
The debut of Grayscale’s Dogecoin ETF in November was disappointing – on its first day, trading volume amounted to just $1.4 million, far short of the $12 million forecast by analyst Eric Balchunas.
Meanwhile, Bitcoin (BTC) and Ethereum (ETH) dominate the ETF segment. On December 8, Bitcoin ETFs reached $3.1 billion in TVT, and Ether ETFs $1.3 billion. Other altcoins, such as Solana ($22 million), XRP ($21 million), Chainlink ($3.1 million) and Litecoin ($526,000), remain far behind.
In terms of capital inflows, XRP has maintained an unbroken streak since its debut, while Solana is recovering after an outflow of $32 million on Wednesday, recording a three-day run of inflows. The data suggests that ETF capital is concentrating on the two largest cryptocurrencies, underscoring their leading position in regulated investment products.
Source: COINTELEGRAPH
