U.S.-listed Dogecoin (DOGE) spot exchange-traded funds (ETFs) have recorded another session with zero net inflows, highlighting a continued stagnation in demand since their launch. According to data from SoSoValue, the total net assets for these ETFs remain constant at approximately $5.25 million, indicating no fresh capital has entered the products in this latest trading session.
The lack of inflows for DOGE ETFs is particularly notable when compared to the performance of other altcoin ETFs. On the same day, Solana spot ETFs gained $1.48 million, XRP spot ETFs attracted $11.93 million, and HBAR spot ETFs added $898,670. This stark contrast suggests that rather than a general retreat from altcoin ETFs, investors are selectively allocating their capital, leaving DOGE behind.
The situation is further complicated by the issuer-level dynamics of DOGE ETFs. A significant portion of the assets is concentrated in Grayscale“s DOGE ETF, while Bitwise“s DOGE product has seen net outflows. This uneven distribution means that even minor redemptions from one fund can negate inflows from another, resulting in stagnant total flows. Consequently, DOGE ETFs lack the issuer diversification found in competing products, where inflows can accumulate across multiple funds rather than canceling each other out.
Liquidity issues also present a major barrier to institutional participation in DOGE ETFs. During the same trading day, these ETFs recorded a mere $45,460 in trading volume, while Solana ETFs traded at $15.77 million and XRP ETFs at $10.84 million. Such low turnover diminishes execution flexibility and deters larger investors who depend on market depth and consistency. As a result, DOGE ETFs are struggling to attract sustained institutional interest, perpetuating the cycle of zero inflows.
In terms of market penetration, the assets held by DOGE ETFs represent just 0.02% of Dogecoin”s overall market capitalization. In contrast, Solana ETFs account for 1.35% of SOL”s market cap, and XRP ETFs make up 0.98%. This disparity underscores the fact that DOGE has not yet established itself as a significant portfolio component via ETFs, unlike other altcoins that are gaining traction.
The performance of HBAR ETFs offers a middle ground for comparison. Although smaller than the SOL and XRP products, HBAR ETFs continue to draw incremental inflows, with total assets reaching $51.82 million, cumulative inflows of $83.7 million, and a daily trading volume of $647,740—surpassing DOGE ETFs by more than 14 times. This contrast indicates that even modest institutional narratives can foster more consistent ETF demand than what is currently observed with DOGE.
