Grayscale Dogecoin ETF Could See $12M Volume on Debut, Analyst Predicts
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Key Insights:
- Grayscale launches its spot Dogecoin ETF under the ticker symbol GDOG.
- Bloomberg senior ETF analyst Eric Balchunas predicted $12 million in trading volume on day one.
- DOGE price jumps nearly 2% amid first spot Dogecoin ETF launch.
As the larger crypto market continues its recovery route all eye turn to the king of meme coins, Dogecoin. With Dogecoin ETF launch happening it’ll be interesting to see how Dogecoin price reacts to this update.
The first spot Dogecoin ETF by crypto asset manager Grayscale launched today under the ticker symbol GDOG. Highlighting the milestone, a Bloomberg analyst claimed the Grayscale Dogecoin Trust ETF could record $12 million in trading volume on its debut.
DOGE price saw a more than 2% jump ahead of the first spot Doge ETF launch. Can the ETF launch trigger a rally?
Grayscale Dogecoin Trust ETF Launch Sparks Buzz
In a press release on November 24, asset manager Grayscale Investments officially announced first Dogecoin ETF launch in the United States under the 1933 Act. The trust’s investment objective is to provide exposure to Dogecoin, tracking spot DOGE prices.
Grayscale CEO Peter Mintzberg took to X to mark the milestone. He highlighted that the launch showed how the firm innovates in the crypto asset class.
The Grayscale Dogecoin Trust ETF has started trading under the ticker GDOG on NYSE Arca. The company expects massive demand as DOGE has a wide user base and a dedicated community.
Bloomberg Analyst Predicts $12 Million in Debut Trading Volume
Bloomberg senior analyst Eric Balchunas claimed the Grayscale Dogecoin Trust ETF could record $12 million in trading volume on its debut day.
He added that the asset manager has set a management fee of 0.35% for the spot Dogecoin ETF. However, the entire sponsor fee is waived for three months or until the first $1 billion in total DOGE holdings from the listing date on the exchange.
Eric Balchunas added that Grayscale Dogecoin Trust ETF will have two days to attract investors, as the Bitwise Dogecoin ETF (BWOW) will start trading on Wednesday.
As the Coin Republic reported earlier, a Dogecoin ETF by 21Shares received approval for listing and trading on the Nasdaq exchange.
Will DOGE Price Reclaim Above Key Level?
DOGE price climbs almost 2% over the last 24 hours as traders respond immediately to the Grayscale spot Doge ETF launch news.
The price was trading at $0.145, with a 24-hour low and high of $0.143 and $0.148, respectively. Trading volume jumped 15% to $1.5 billion over the last 24 hours.
The price needs to reclaim above the 50-MA at $0.184 to gain upside momentum. DOGE is currently under selling pressure due to a “death cross” formation in the daily timeframe.
Derivatives markets also showed mixed sentiment in the last few hours, as per Coinglass data. The total DOGE futures open interest jumped by 0.50% to $1.43 billion in the last 4 hours.
The 4-hour DOGE futures open interest on Binance and Bybit climbed by 0.82% and 0.35%, respectively. However, it dropped almost 0.40% on OKX.
The post Grayscale Dogecoin ETF Could See $12M Volume on Debut, Analyst Predicts appeared first on The Coin Republic.
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Un analista predice que el ETF de Dogecoin podría alcanzar un volumen de 12 millones de dólares en su debut
Dogecoin gains 5% as Grayscale’s GDOG ETF sparks bullish momentum
Grayscale Dogecoin ETF Could See $12M Volume on Debut, Analyst Predicts
Share:
Key Insights:
- Grayscale launches its spot Dogecoin ETF under the ticker symbol GDOG.
- Bloomberg senior ETF analyst Eric Balchunas predicted $12 million in trading volume on day one.
- DOGE price jumps nearly 2% amid first spot Dogecoin ETF launch.
As the larger crypto market continues its recovery route all eye turn to the king of meme coins, Dogecoin. With Dogecoin ETF launch happening it’ll be interesting to see how Dogecoin price reacts to this update.
The first spot Dogecoin ETF by crypto asset manager Grayscale launched today under the ticker symbol GDOG. Highlighting the milestone, a Bloomberg analyst claimed the Grayscale Dogecoin Trust ETF could record $12 million in trading volume on its debut.
DOGE price saw a more than 2% jump ahead of the first spot Doge ETF launch. Can the ETF launch trigger a rally?
Grayscale Dogecoin Trust ETF Launch Sparks Buzz
In a press release on November 24, asset manager Grayscale Investments officially announced first Dogecoin ETF launch in the United States under the 1933 Act. The trust’s investment objective is to provide exposure to Dogecoin, tracking spot DOGE prices.
Grayscale CEO Peter Mintzberg took to X to mark the milestone. He highlighted that the launch showed how the firm innovates in the crypto asset class.
The Grayscale Dogecoin Trust ETF has started trading under the ticker GDOG on NYSE Arca. The company expects massive demand as DOGE has a wide user base and a dedicated community.
Bloomberg Analyst Predicts $12 Million in Debut Trading Volume
Bloomberg senior analyst Eric Balchunas claimed the Grayscale Dogecoin Trust ETF could record $12 million in trading volume on its debut day.
He added that the asset manager has set a management fee of 0.35% for the spot Dogecoin ETF. However, the entire sponsor fee is waived for three months or until the first $1 billion in total DOGE holdings from the listing date on the exchange.
Eric Balchunas added that Grayscale Dogecoin Trust ETF will have two days to attract investors, as the Bitwise Dogecoin ETF (BWOW) will start trading on Wednesday.
As the Coin Republic reported earlier, a Dogecoin ETF by 21Shares received approval for listing and trading on the Nasdaq exchange.
Will DOGE Price Reclaim Above Key Level?
DOGE price climbs almost 2% over the last 24 hours as traders respond immediately to the Grayscale spot Doge ETF launch news.
The price was trading at $0.145, with a 24-hour low and high of $0.143 and $0.148, respectively. Trading volume jumped 15% to $1.5 billion over the last 24 hours.
The price needs to reclaim above the 50-MA at $0.184 to gain upside momentum. DOGE is currently under selling pressure due to a “death cross” formation in the daily timeframe.
Derivatives markets also showed mixed sentiment in the last few hours, as per Coinglass data. The total DOGE futures open interest jumped by 0.50% to $1.43 billion in the last 4 hours.
The 4-hour DOGE futures open interest on Binance and Bybit climbed by 0.82% and 0.35%, respectively. However, it dropped almost 0.40% on OKX.
The post Grayscale Dogecoin ETF Could See $12M Volume on Debut, Analyst Predicts appeared first on The Coin Republic.
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Un analista predice que el ETF de Dogecoin podría alcanzar un volumen de 12 millones de dólares en su debut