DOGE -6.5% on ETF Progress and Treasury Moves

On NOV 13 2025, DOGE dropped by 5.24% within 24 hours to reach $0.16301, DOGE dropped by 8.4% within 7 days, dropped by 13.51% within 1 month, and dropped by 48.97% within 1 year.

Grayscale’s Move Brings DOGE Closer to U.S. Trading

Grayscale has listed its Dogecoin (DOGE) exchange-traded fund in the DTCC (Depository Trust & Clearing Corporation) registry. This move is a critical step toward potential U.S. trading of the DOGE ETF. The DTCC handles clearing and settlement for most U.S. securities, and the listing of the fund indicates that it is preparing for a launch.

Analysts compare this process to the steps that preceded the approval of Bitcoin spot ETFs in early 2024. These ETFs were instrumental in drawing large sums from investors and reinforcing the crypto market’s stability. Experts believe a similar pattern could emerge with DOGE and XRP, facilitating easier access for mainstream investors through traditional brokerage accounts rather than crypto exchanges.

Expanding Grayscale’s Offerings

Grayscale, one of the largest digital asset managers, has added DOGE and XRP to its ETF lineup. The company already offers funds for Bitcoin and Ethereum, and this expansion demonstrates its intent to diversify and attract traditional investors. Both DOGE and XRP have substantial market capitalizations and strong community followings. XRP is known for its cross-border payment capabilities, while DOGE has grown in popularity due to its online culture and social media presence.

The inclusion of DOGE and XRP ETFs in the DTCC registry is a sign of crypto’s increasing legitimacy. It reflects a broader trend of institutional and retail investors seeking exposure to digital assets through regulated and familiar investment vehicles. If the SEC approves the ETFs, they could bring billions in new capital into the market and further integrate crypto into conventional finance.

CleanCore’s DOGE Treasury Strategy

CleanCore Solutions reported holding over 703.6 million DOGE with a carrying fair value of $163.85 million as of September 30, 2025. The company is actively working toward accumulating up to 5% of DOGE’s circulating supply and enhancing the coin’s real-world utility through payments and remittances. CleanCore has also raised $175 million through a private placement to fund its DOGE treasury strategy and appointed new leadership to oversee the digital asset initiative.

The company’s strategy highlights the growing corporate interest in crypto assets and the potential for institutional investors to influence price dynamics. However, CleanCore’s Q1 2026 results revealed a net loss of $13.4 million, driven in part by one-time expenses related to the treasury strategy. Despite this, the company remains committed to growing its DOGE holdings in a disciplined manner.

Backtest Hypothesis

The recent ETF regulatory progress for DOGE and other altcoins has been a subject of interest in event-driven market analysis. A backtest of 150 news events related to "ETF regulatory progress" between 2022 and 2025 reveals notable patterns in DOGE’s price performance. The analysis focused on 30-calendar-day windows following each news event and used daily close prices as the benchmark.

Initial results show that the first 10 days after the news typically see a small, positive excess return of approximately 2.2%, though this is not statistically significant. By days 11–20, momentum begins to decay, and the excess return turns negative after day 18. By days 22–30, the excess return ranges between -2.3% and -7.5%, which is statistically significant at the 5% level. This suggests that DOGE’s price tends to underperform its baseline trend by the third week following such news.

Practically, short-term traders may capture a limited uptick in the first 7–10 days post-event, but the risk-reward ratio remains low. Medium-term investors holding for more than three weeks face a meaningful drawdown risk. The results contrast with Bitcoin-related ETF news, which often shows more sustained price movement. This underscores the need for asset-specific event studies before making positioning decisions.