Ah, the theater of finance! Eric Balchunas, that harbinger of numerical doom and glory, hath cast his prophecy upon the altar of Bloomberg: a $12 million first-day print for the Dogecoin ETF. Behold, the meme asset, once the court jester of the markets, now strides onto the grand stage, its jests echoing through the halls of Wall Street. How the desks shall judge this spectacle! Not as mere background noise, but as the headline of their tragicomic opera. 🎭
Grayscale, that venerable architect of financial instruments, hath birthed GDOG-a ticker so quaint, it doth evoke the spirit of a late ’80s rapper, forgotten yet beloved. The fee structure, a mere 35 bps, is waived to 0.00% for the first $1 billion or three months, whichever doth perish first. A cunning ploy, methinks, to ensnare early inflows ere Bitwise unleasheth its own DOGE tracker, BWOW, on the morrow. 🕰️
The first spot Dogecoin ETF in US launches today from Grayscale, ticker $GDOG (sounds like a late ’80s one hit wonder rapper). Fee is 35bps but is waived to 0.00% for first 1b or until 3mo. Day One volume predictions welcome. I’m going with $12m. 33 Act
– Eric Balchunas (@EricBalchunas) November 24, 2025
Two issuers, two days apart, and lo! The market is graced with back-to-back meme asset listings. A carnival of folly, while Bitcoin, Ethereum, and Solana languish in despair, their flows but a shadow of their former glory. 🌚
GDOG and Dogecoin
The Bloomberg screen for GDOG revealeth total assets of $1.55 million prelaunch, a replication setup holding pure DOGE exposure-no swaps, no leverage, no structural tricks. A plain position, yet how it doth tantalize! Recent listings have set the bar high: Bitwise’s Solana ETF (BSOL) debuted with $69.45 million, swelling to $289 million by day’s end. XRPC, the XRP product, arose from the ashes with $243 million the morn after its silent launch. 🌟
And Dogecoin itself? It tradeth at $0.143-$0.146, a range beset by intraday swings, yet unmoved in its grand design. DOGE, that liquid altcoin, standeth firm, its depth a beacon for ETF-friendly waters. Will GDOG bark louder than its bite? Only time, that cruel mistress, shall tell. ⏳
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2025-11-24 19:13