Grayscale, the world’s largest cryptocurrency-focused asset supervisor, teased its Dogecoin (CRYPTO: DOGE) spot exchange-traded fund with a humorous meme on Wednesday.
Grayscale Posts Shiba Inu Meme
The meme video posted on X overlays the viral Shiba Inu picture on pet canines using an escalator. On the identical time, the Grayscale emblem is positioned over their house owners, suggesting Dogecoin’s rising mainstream adoption by the brand new Grayscale Dogecoin Belief ETF (NYSE:GDOG).
Grayscale Opens The Present
The ETF began trading on the NYSE Arca on Monday, changing into the primary funding car within the U.S. to show buyers to the spot worth of DOGE tokens held instantly in funding accounts.
As of Nov. 26, the Grayscale ETF has seen cumulative inflows of $2.16 million, with whole property beneath administration reaching $3.92 million, according to knowledge from SoSo Worth.
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Bitwise Joins In
Grayscale ETF was adopted by the launch of Bitwise Dogecoin ETF (NYSE:BWOW) on Wednesday, making this week a historic one for the favored memecoin.
The Bitwise ETF noticed buying and selling quantity of $2.83 million on its first day, double that of what Grayscale’s ETF achieved on its debut.
Nonetheless, just like Grayscale, the Bitwise ETF did not report inflows on the primary day.
Mixed, the 2 ETFs have $6.48 million in property beneath administration, accounting for 0.03% of DOGE’s whole market worth.
Worth Motion: The brand new ETFs weighed positively on the memecoin, as DOGE traded up 1.39% to $0.1542 during the last 24 hours, in line with data from Benzinga Pro. The coin has gained 4.4% this week.
Grayscale ETF closed 1.60% larger at $18.29 throughout Wednesday’s common buying and selling session. Bitwise DOGE ETF closed at $25.51, up 3.1%.
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Photograph courtesy: Shutterstock
