Dogecoin ETFs lose their bite as Bitcoin, Ethereum big dogs lead the pack

cointelegraphPublished on 2025-12-09Last updated on 2025-12-09

Abstract

US spot Dogecoin ETFs are experiencing a significant decline in trading activity, with total value traded (TVT) dropping to a record low of $142,000, far below the peak of over $3 million seen in late November. This cooling demand contrasts sharply with Dogecoin's strong performance in the broader crypto market, where it maintains over $1.1 billion in daily spot trading volume and a $22.6 billion market cap. The discrepancy suggests investors prefer accessing DOGE directly through exchanges rather than via ETFs. Meanwhile, Bitcoin and Ethereum ETFs continue to dominate the market, with TVTs of $3.1 billion and $1.3 billion respectively, underscoring their dominance in the regulated crypto ETF space. Other altcoin ETFs, including those for Solana and XRP, trail significantly behind in trading volume.

US spot Dogecoin exchange-traded funds (ETFs) are showing early signs of cooling demand, as total value traded (TVT) has fallen to its lowest level since launch.

SoSoValue data shows that on Monday, Dogecoin ETFs’ TVT fell to just $142,000, the lowest since launch. This marks a sharp retreat from late November, when the funds saw days where value traded topped $3.23 million.

Total value traded refers to the total dollar amount of ETF shares bought and sold over a given period. It serves as a gauge of market activity and practical liquidity, indicating the amount of money that has moved through the funds.

Daily spot ETF net inflows and total net assets. Source: SoSoValue

The contrast is stark when compared to Dogecoin (DOGE) activity in the broader crypto market. CoinGecko data shows that in the last 24 hours, DOGE recorded over $1.1 billion in spot trading volume and has a market capitalization of $22.6 billion.

This shows that the underlying asset remains highly liquid, but not through its ETF wrappers. This discrepancy suggests that traders are accessing DOGE directly through exchanges rather than traditional market vehicles.

Grayscale’s Dogecoin ETF made its debut in November but fell well short of initial volume expectations. ETF analyst Eric Balchunas predicted at the time that the ETFs would get at least $12 million in volume. However, the ETF only saw $1.4 million on its first day.

Related: BlackRock files with SEC for listing of staked Ether ETF

Bitcoin and Ether dominate ETF trading as alt-ETFs trail behind

On Dec. 8, ETF trading activity remained concentrated on Bitcoin (BTC) and Ether (ETH)-based products. According to SoSoValue, Bitcoin ETFs posted $3.1 billion in TVT, while Ether ETFs recorded $1.3 billion.

Solana (SOL) ETFs saw $22 million in value traded, while XRP products recorded $21 million in value traded. Further down the curve, the recently-launched Chainlink ETFs recorded a $3.1 million TVT on the same day, while Canary’s Litecoin (LTC) ETF had about $526,000.

The data suggests that ETF capital still overwhelmingly flows toward the two largest digital assets, continuing their lead as the core liquidity centers of regulated crypto exchange-traded products.

In terms of inflows, XRP (XRP) remains strong. On Monday, XRP ETFs’ inflow streak remains unbroken since its launch. Meanwhile, Solana ETFs, which first had their inflow streak broken in November, are on a three-day inflow streak after seeing $32 million in outflows on Dec. 3.

Magazine: Bitcoin whale Metaplanet ‘underwater’ but eyeing more BTC: Asia Express


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DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. 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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

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