First Spot Dogecoin ETF Launches Amid Market Volatility — WSJ
By Vicky Ge HuangThe first U.S. exchange-traded fund to directly hold dogecoin, the original memecoin, has started trading against a backdrop of ongoing crypto market volatility.The fund, sponsored by Grayscale Investments, trades under the ticker GDOG and charges a 0.35% management fee. The fee will be waived until the fund hits $1 billion in assets or completes three months in existence.The launch comes after a bruising week for bitcoin and the broader crypto market. Bitcoin dropped below $81,000 on Friday before paring losses. The largest cryptocurrency was hovering near $86,000 on Monday morning.Meanwhile, dogecoin was trading at around 15 cents apiece, down from its all-time high of approximately 73 cents set in 2021.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).