The crypto market just witnessed another big moment as Grayscale launched the first ever spot Dogecoin ETF in the United States. The product is called the Grayscale Dogecoin Trust ETF, trading under the ticker $GDOG, and it arrives with a temporary 0 percent fee.
Grayscale announced the launch with a playful message, saying “Much wow. Big ETP.” The company confirmed that $GDOG normally carries a 35 bps fee, but that fee is completely waived for the first $1 billion in assets or for the first three months, whichever comes first.
Bloomberg ETF specialist Eric Balchunas said that $GDOG will have only two days of spotlight before Bitwise rolls out its own Dogecoin ETF on Wednesday. The Bitwise product will trade under the ticker $BWOW. Balchunas added that it is good to see different issuers get their own moment in the market, noting that companies like Grayscale pushed the industry for years to reach this point.
DOGE Price Has Not Reacted Yet
Despite the excitement, DOGE has not shown a major reaction. The coin is trading near $0.1438, up less than 1 percent in the past 24 hours. The ninth-largest cryptocurrency is still stuck in a falling structure.
DOGE continues to form lower highs inside a falling channel. The key resistance remains $0.16, a level that has repeatedly rejected upward attempts.
The weekly chart shows DOGE dropping from $0.3075 in September to current prices. Holding $0.14 is extremely important for bulls. Losing this level could open the door to $0.10.
One analyst said that the weekly candle has touched the long-term support trendline for the third time. The last time this pattern appeared was during the 2023–2024 period, which marked the start of Dogecoin’s slow multi-year bull run inside the 2021–2026 cycle.
For now, signals are mixed. The first ever $DOGE ETF is undeniably bullish for long-term legitimacy, and the zero percent fee could attract faster inflows into $GDOG. But the price still needs to break above $0.16 before any explosive rally can begin.
