U.S. exchange-traded funds tracking Dogecoin are far behind comparable XRP and Solana products in net inflows. According to data analyzed by CoinDesk, three tracked DOGE ETFs collected just over $12 million in nearly ten months. By comparison, XRP funds took in $12.29 million during the September 9 trading session alone.
The longer-term gap is much larger. Tracked XRP funds have accumulated about $1.7 billion in net inflows since launch, while Solana products have collected roughly $1.36 billion. The DOGE group recorded zero combined net flow on 166 of 199 trading days and posted about $108,000 of net withdrawals from August 13 through September 10.
Weak demand is already shrinking the product lineup. Bitwise said it plans to liquidate its BWOW Dogecoin ETF less than a year after launch. The fund reported about $687,700 in assets as of September 9, with trading expected to end on October 14 and remaining shareholders scheduled to receive cash on October 22.
A rise in assets under management does not necessarily mean new investor money is entering a fund. CoinDesk notes that DOGE rallied sharply late in August while ETF flows remained limited, so part of the increase in fund assets came from the underlying token's price appreciation. The current data therefore points to weak demand for the ETF wrapper specifically, rather than measuring the size of Dogecoin's broader holder base.