Grayscale launches first Dogecoin spot ETF in US

  • Grayscale has listed its Dogecoin spot ETF in the United States.
  • GDOG will trade on the NYSE Arca, and analysts expect $12 million in debut volume.
  • The ETF, which tracks the leading memecoin, is one of many expected in the coming days.

Cryptocurrency asset manager Grayscale has launched the first spot Dogecoin exchange-traded fund in the United States.

The spot ETF, which began trading on the NYSE Arca under the ticker ‘GDOG’ on November 24, 2025, marks another milestone in the crypto market – particularly for memecoins.

GDOG marks the next step as more ETFs come to the US market, says senior ETF analyst Eric Balchunas.

Dogecoin spot ETF enters the US market

Grayscale’s Dogecoin spot ETF, GDOG, is live for investors, who can now buy shares of the product via their brokerage accounts.

Structured under the Securities Act of 1933, GDOG is a spot exchange-traded fund that directly holds physical Dogecoin tokens in secure custody rather than relying on derivatives or futures contracts.

GDOG will closely track the real-time market price of DOGE.

This means investors have transparent and efficient exposure to Dogecoin, without the complexities of direct cryptocurrency ownership, such as managing private keys or navigating exchange risks.

As it looks to attract early inflows, Grayscale has implemented an aggressive fee structure. The sponsor fee is set at 0.35% annually.

However, it will be fully waived to 0% for the first three months or until the fund reaches $1 billion in assets under management, whichever comes first.

Grayscale’s fee waiver will end on February 24, 2026.

Crypto enthusiasts and analysts predict potential for GDOG to attract both retail and institutional players eyeing the top memecoin.

According to senior Bloomberg ETF analyst Eric Balchunas, the debut performance of GDOG could see a first-day volume of $12 million.

DOGE price and more spot crypto ETFs

The US saw its first spot crypto ETFs launch in 2024, with Bitcoin and Ethereum.

Over the past few months, this offering has increased with the rollout of multiple funds.

Notably, the flurry is expected to accelerate following the SEC’s new listing standard, and could see more added to ETFs on Solana, Hedera, XRP and Litecoin.

Balchunas says GDOG will soon be followed by more, including nearly 100 over the next six months.

The launch comes as Dogecoin trades at $0.14 amid broader market turmoil.

Despite macroeconomic pressures and sector-wide sell-offs, DOGE price could see a bounce to $0.20 and higher in the coming days.

As well as the ETF buzz, other catalysts for DOGE could be a memecoin rally, treasury company purchases and broader altcoin market resilience.

The post Grayscale launches first Dogecoin spot ETF in US appeared first on CoinJournal.

Ethereum price forecast: oversold bounce or breakdown ahead?

  • Ethereum price struggles below $3,000 with buyers defending $2,750–$2,800 support.
  • Open interest rises as leveraged longs increase, raising volatility risk.
  • Fusako upgrade sparks interest, but market remains cautious amid outflows.

Ethereum price remains under pressure after a week of sharp declines, institutional outflows, and renewed macro uncertainty.

The cryptocurrency has attempted several intraday rebounds, but none have been strong enough to shift the broader downtrend.

As investors assess shifting liquidity conditions and await the upcoming Fusako upgrade, the key question is whether Ethereum (ETH) is preparing for a relief rally or bracing for another leg lower.

Selling pressure meets fragile support

Ethereum has fallen nearly 12% over the past seven days, extending a multi-month decline and keeping price action locked inside a steep descending channel that has guided every move since early autumn.

Ethereum price chart
Ethereum price chart | Source: TradingView

The latest rebound from the $2,525 liquidity pocket lifted sentiment briefly, yet the overall structure remains heavy as sellers continue to defend each approach toward the channel’s upper boundary near $3,050 to $3,120.

Momentum indicators highlight this tension, with the daily RSI hovering near oversold territory, signalling exhaustion but not a confirmed reversal.

Earlier rebounds at similar RSI levels failed to build strength, giving sellers repeated opportunities to push Ethereum lower.

ETH also trades beneath the 20-day, 50-day, and 200-day EMAs, which have compressed tightly above price and formed a broad resistance zone.

This overhead pressure has pinned Ethereum below the $2,947 to $3,000 region, which remains the market’s first and most critical barrier.

A decisive break above this area is needed to shift momentum, because without it, each recovery attempt risks fading as seen throughout November.

Ethereum price squeezes between key levels

The wider technical picture shows Ethereum caught between fragile support and heavily defended resistance levels.

The $2,750 to $2,800 band has served as a demand shelf throughout the year, and buyers are once again fighting to maintain it.

Losing this zone would open a path toward deeper support levels at $2,450, $2,300, and possibly $2,150.

A clean breakdown below $2,500 would expose thin liquidity and could drive ETH toward the broader accumulation range between $2,050 and $2,200.

A sustained move above $2,947 would clear the first obstacle and potentially spark a rally toward $3,132, where the 200-day EMA converges with heavy volume resistance.

A breakout above that level could extend recovery efforts toward $3,450 and ease pressure heading into December.

Derivatives data show traders increasing exposure during the recent bounce, with the Ethereum futures open interest climbing above $34 billion and signalling that market participants are adding positions rather than unwinding them.

Long-short ratios on major exchanges have leaned toward longs, suggesting optimism but also raising the risk of sharper volatility if resistance levels hold and leveraged buyers become trapped.

Institutional flows continue to weigh on sentiment, with ETH investment products seeing more than half a billion dollars in outflows last week, led by US spot ETFs.

The retreat highlights ongoing caution among large investors who remain sensitive to interest-rate expectations and regulatory developments.

Also, Ethereum’s correlation with equity markets remains elevated, leaving the cryptocurrency exposed to broader macro swings even as the upcoming Fusako upgrade draws interest but has yet to shift market mood.

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