Bitwise Teases DOGE ETF, Grayscale’s GDOG Saw No Inflows on First Day

Bitwise Asset Management teased the launch of its upcoming Dogecoin DOGE $0.15 24h volatility: 2.0% Market cap: $22.67 B Vol. 24h: $1.53 B exchange-traded fund (ETF), BWOW, via X. The firm said that the ETF’s registration statement has been filed but is not yet effective. The product cannot be sold or marketed until the US Securities and Exchange Commission (SEC) finalizes the process.

Once effective, the ETF would offer US investors direct exposure to DOGE through a regulated vehicle and open the meme coin sector to institutional and retail exposure, making DOGE one of the best meme coins to buy.

The Bitwise Dogecoin ETF (ticker: $BWOW).

Coming soon. pic.twitter.com/XyQ7NtS7kU

— Bitwise (@BitwiseInvest) November 24, 2025

Grayscale’s GDOG Launches with No First-Day Inflows

On the other hand, Grayscale’s GDOG, the first spot Dogecoin ETF to trade in the US, debuted on Nov. 24 but recorded zero inflows during its launch day, according to SoSoValue data. Similarly, the first XRP ETF by Canary Capital, XRPC, also saw zero inflows on the first day but raked in $243.05 million the following day.

Earlier in November, Bitwise resubmitted its S-1 registration, removing the delaying amendment and automatically triggering the Securities Act’s 20-day approval window under Section 8(a). Bitwise Asset Management’s spot XRP ETF launched on the NYSE on Nov. 20.

According to Bloomberg ETF analyst Eric Balchunas, this could allow the Bitwise DOGE ETF to become effective as early as Nov. 26, 2025, provided the SEC takes no intervening action. Grayscale’s approach was similar as well, which indicates that BWOW could be trading soon.

Looks like Bitwise is doing the 8(a) move for their spot Dogecoin ETF, which basically means they plan on going effective in 20 days barring an intervention. pic.twitter.com/y8jyxbYKXQ

— Eric Balchunas (@EricBalchunas) November 6, 2025

DOGE Price Holds Key Support

At press time, DOGE is holding firmly above a long-term horizontal support zone around the $0.13–$0.14 region. Price remains inside a descending channel, with repeated rejections near the upper trendline.

A breakout above channel resistance near $0.16 would mark the first attempt toward a bullish recovery with the initial target at $0.18, the midline of the Bollinger Band (20-day SMA). Also, the indicators remain mixed with RSI near 40 and MACD showing flattening momentum.

Source: TradingView

In the bullish case, DOGE could aim for a more ambitious target at $0.21, a price level that has acted as resistance through September. On the other hand, failure to defend the support band in the chart could push the meme token toward $0.12, a level not retested since early 2025.

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