Dogecoin exchange-traded funds in the United States reached a new weekly record with $2.89 million in net inflows by September 25, surpassing the previous high of $2.59 million set in early January. Data from SoSoValue showed DOGE trading near $0.098 on September 27, approaching the key $0.10 resistance level that has capped recent rallies.
Record inflows amid product changes
The inflows sharply exceeded last week’s $284,510 net figure, signaling renewed investor interest as ETF product offerings consolidate. The latest peak arrived in just three sessions—Monday, Tuesday, and Friday—while the upcoming liquidation of Bitwise’s Dogecoin fund narrows market choices for investors seeking indirect DOGE exposure via brokerage accounts.
Bitwise confirmed plans to shutter its BWOW fund, setting October 14 as the last day of trading before liquidation. This will leave only two U.S. spot Dogecoin ETF products available to investors.
These funds allow market participants to gain access to DOGE price movements without the need for direct custody of the underlying token. Grayscale’s GDOG was the primary beneficiary, collecting $806,060 in Friday inflows and holding $13.87 million in assets, or about 81% of the sector’s reported total.
Grayscale’s share of net inflows rose to $15.46 million after Bitwise announced its closure, highlighting investor migration to the leading product as alternatives shrink.
Meanwhile, 21Shares’ TDOG product saw its cumulative inflows decrease to $1.03 million as of September 10, down from $1.63 million earlier in the month. Bitwise’s liquidation will further reduce product choice, even as the category posts its largest week of net inflows since inception.
Dogecoin ETF inflows remain a fraction of the broader crypto ETF market: U.S. spot Bitcoin ETFs attracted $2.39 billion in net inflows over the same period, more than 800 times the DOGE total according to SoSoValue. Current DOGE ETF assets represent only 0.11% of Dogecoin’s total market value.
Dogecoin ETF inflows were recorded in nine U.S. trading sessions between July 1 and September 18, suggesting irregular but sometimes concentrated demand. DOGE’s 24-hour trading volume stood at $704.9 million on September 27, over 240 times higher than the latest weekly ETF inflow.
Large holders accumulate amid resistance
ETF inflows coincided with a renewed push by DOGE to surpass the $0.10 barrier, a level that has consistently blocked sustained upward moves in previous weeks. On September 27, DOGE traded near $0.098, with a reported market capitalization of about $15.3 billion.
Price analysis identified $0.10 to $0.105 as critical resistance levels, while $0.095 appeared as the nearest support. CoinGecko recorded a 15.6% increase in DOGE’s price over the last seven days, though it continued to trade just below the $0.10 mark.
Market analysis noted notable whale activity during this period. Analyst Ali Charts highlighted that large wallets acquired more than 1.14 billion DOGE, valued at approximately $112 million, within four days.
Whale acquisitions over 96 hours substantially exceeded ETF inflows, with more than 1.14 billion DOGE accumulated as the token approached heavy resistance levels near $0.10.
This accumulation represents around 39 times the weekly ETF inflow, demonstrating that major wallets were active buyers even as regular flows entered through ETF products. In the past, whale buying typically increased around price consolidations or major support zones. For example, in May, whales acquired 525 million DOGE around the 200-day moving average, while a separate period in September saw 240 million tokens added by wallets holding at least 100 million DOGE.
Currently, the top 149 DOGE wallets each control more than 100 million tokens, combined surpassing 108 billion DOGE. At the same time, futures open interest for Dogecoin traded as high as $1.67 billion during peak activity, and short position liquidations exceeded $12 million in some accumulation phases.
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