The top dog meme coin has just witnessed its first ever exchange-traded fund (ETF), but everything’s gotten off to a slow start. Trading on the NYSE Arca, Grayscale’s GDOG ETF, which is following the Spot market price of Dogecoin (DOGE), inked just $1.80 million inflows in two days of trading.
Surprise Dogecoin ETF Drop Lifts Market Sentiment
Now, things are about to change with Bitwise’s new ETF product debuting today. Bitwise’s BWOW paid homage to the globe’s most popular meme coin in an X tweet. “An accidental crypto movement that makes people smile, with a standing mission to Do Only Good Everyday”, – read the message, praising the DOGE Army for the light-heartedness.
Following the news, Dogecoin (DOGE) fetched 2.5% gains to recover $0.155, now inching very close to a 7-day high. With $1.56 billion in 24-hour trading volume, Dogecoin stands out from the typical meme coin crowd with huge trading volumes, securing its place as the second largest Proof Of Work (PoW) blockchain, stepping aside only for Bitcoin (BTC).
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Bitwise Asset Management just launched the Bitwise Dogecoin ETF (ticker symbol: BWOW), a spot ETF that holds actual DOGE tokens to track its price. It starts trading today, November 26, 2025, on NYSE Arca—giving investors easy access without needing a crypto wallet.
The firm admits the DOGE community’s relentless demand caught them off guard—they “requested, nay demanded” it. With Dogecoin hitting $22 billion market cap and $1 billion in daily trading volume, Bitwise saw the hype as too big to ignore, turning a meme coin into a legit ETF.
You buy shares of BWOW like any stock in your brokerage account, getting direct exposure to DOGE’s price moves. Custody is handled securely by Coinbase, but heads up: it’s high-risk with no FDIC protection, and it’s not a 1940 Act fund, so fewer safeguards than traditional ETFs.
Yes—DOGE climbed 2.5% right after the news, hitting $0.155 as of November 26. Trading volume jumped too, though it’s still off weekly highs amid market wobbles. Analysts predict a 10–15% pop if day-one inflows top $50 million.
It follows Grayscale’s GDOG (launched November 24 with a meh $1.4 million debut) and REX-Osprey’s September product ($25 million AUM). Bitwise offers a 0% fee for the first month on the initial $500 million in assets, which could draw more crowd than the slow starters and fuel DOGE’s “people’s coin” momentum.
