The 21Shares Dogecoin ETF (NASDAQ:TDOG) on Wednesday launched on the Nasdaq as the first spot Dogecoin (CRYPTO: DOGE) ETF backed by the Dogecoin Foundation—but DOGE is down 54% since September and existing ETFs show zero institutional demand.
TDOG Launches With Foundation Backing
21Shares launched TDOG as the first spot Dogecoin ETF to receive explicit SEC approval, differentiating it from earlier products by Grayscale and Bitwise that launched in November through an automated process during the government shutdown.
The ETF holds Dogecoin on a 1:1 basis in institutional-grade custody with a 0.50% management fee.
Investors can buy DOGE exposure through traditional brokerage accounts without navigating digital wallets or crypto exchanges.
House of Doge, the corporate arm of the Dogecoin Foundation, partnered with 21Shares on the launch.
The Foundation’s endorsement gives TDOG an official stamp that competitors lack.
Duncan Moir, president of 21Shares, said the product targets younger, affluent traders who want crypto exposure but invest through traditional brokers.
The Problem: DOGE Is Collapsing
Dogecoin is down around 1.5% today and 54% from the $0.27 September peak.
The meme coin broke below the critical $0.1215 December low and is testing new multi-month lows with zero buying support.
Price trades below all EMAs in complete bearish alignment: 20-day at $0.1343, 50-day at $0.1398, 100-day at $0.1548, and 200-day at $0.1750.
Additionally, the Supertrend indicator at $0.1477 sits well above as resistance.
The descending channel’s lower boundary around $0.12 is barely holding. A breakdown exposes DOGE to a flush toward $0.10 or lower.
Existing ETFs Show Zero Demand
SoSoValue ETF data shows the harsh reality: existing DOGE spot ETFs are seeing zero net flows, with cumulative net flow at just $6.17 million and total net assets of only $8.86 million—representing a microscopic 0.061% of DOGE’s market cap.
Last week’s data shows a $408,960 outflow, confirming institutional money is leaving, not entering.
For context, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs saw billions in inflows during their launches while DOGE ETFs are seeing nothing.
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