🟠Grayscale’s newly launched Dogecoin Trust on NYSE Arca attracted just $1.8 million on its first day — a modest debut for what is technically the first ETF tied to a memecoin. Despite the temporary zero-fee structure, the fund does not fall under the 1940 Act, meaning it lacks the standard protections typical for regulated ETFs.
🟠Analysts attribute the limited demand to broader market weakness and the unique nature of DOGE’s investor base. Retail traders are accustomed to purchasing the token directly, while ETF users tend to focus on more robust assets. As a result, the launch had little impact on the token’s price: DOGE rose a mere 1.5% and continues to trade near $0.15.