In the world of ETF cryptocurrency based on Dogecoin (DOGE) they lose momentum. According to data from SoSoValue platform, on Monday the total value of the transaction (TVT) of these funds dropped to a record low of $122,000 – the lowest since their debut. This is a significant regression compared to the end of November when TVT exceeded $3.23 million.
Nevertheless, Dogecoin itself remains popular in the wider market. Over the last 24 hours, it has recorded over $1.1 billion in spot trading and market capitalization at $22.6 billion, as reported by CoinGecko. The difference indicates that investors prefer to trade DOGE directly on stock exchanges rather than through ETFs.
ETF Dogecoin's debut from Grayscale in November disappointed – the first day's turnover was only $1.4 million, far from projected 12 million by analyst Eric Balchunas.
Meanwhile, Bitcoin (BTC) and Ethernum (ETH) dominate the ETF segment. On December 8, ETF Bitcoin reached $3.1 billion, and Ether reached 1.3 billion. Other altcoins, like Solana (22 million dollars), XRP (21 million), Chainlink (3.1 million) and Litecoin (526,000), remain behind.
In terms of capital inflows, XRP maintains an uninterrupted streak since its debut, and Solana rebuilds after the outflow of $32 million on Wednesday, recording a three-day series of inflows. Data suggests that ETF capital focuses on the two largest cryptocurrency, highlighting their position as leaders in regulated investment products.
Source: COINTELEGRAPH
