Dogecoin News Today: Institutional Altcoin ETFs Defy Crypto's Bear Plunge

The cryptocurrency market's recent turbulence has not dampened enthusiasm for new exchange-traded fund (ETF) offerings, as Grayscale and VanEck prepare to bring Dogecoin and Solana products to U.S. investors. The Grayscale Dogecoin Trust (DOGE), a converted fund, is expected to debut on the New York Stock Exchange as early as next Monday, according to Bloomberg Senior ETF Analyst Eric Balchunas. Meanwhile, VanEck's Solana ETF (VSOL) began trading on Monday, adding to a growing list of altcoin-focused products that have attracted significant capital despite broader market declines according to reports.

The launches come amid a challenging environment for crypto assets. U.S.-listed spot Bitcoin ETFs experienced $870 million in net outflows on Thursday - the second-largest single-day withdrawal since their launch - while Ethereum ETFs saw $259.7 million in outflows according to data. Over the past week, crypto funds recorded a total outflow of $2 billion, marking the third consecutive week of withdrawals and pushing total outflows to $3.2 billion since October according to reports. Bitcoin (BTC-USD) has slipped below $100,000, trading at $96,847.63 as of Friday, while Ethereum (ETH-USD) fell to $3,157.87 according to data. Analysts at 10X Research have declared the market in a bear phase, citing weak ETF inflows, selling by long-term holders, and muted retail participation.

Despite the downturn, institutional interest in altcoins remains robust. Bitwise's Dogecoin ETF could start trading later this month, following an SEC filing in early November. VanEck's VSOL joins Canary Capital's XRP ETF (XRPC), which saw a record $58 million in first-day trading volume, and the Bitwise Solana Staking ETF (BSOL), which now manages over $550 million in assets according to reports. These launches reflect a broader trend of institutional validation for altcoins, with Ric Edelman of the Digital Assets Council noting that "crypto is increasingly seen as a legitimate asset class worth of inclusion in diversified portfolios" according to data.

The ETF pipeline also highlights Ethereum's resilience. BitMine Immersion (BMNR) reported holding 3.6 million ETH tokens, reinforcing its position as the largest Ethereum treasury. The company's November chairman's message emphasized the asset's long-term potential, citing tailwinds from the upcoming Fusaka upgrade and advancements in asset tokenization. Meanwhile, Ethereum's ETF outflows - representing 4% of assets under management - contrast with cautious optimism about its technical fundamentals according to reports.

As the market navigates this bearish phase, the influx of new ETFs underscores crypto's evolving role in traditional finance. While outflows persist, the steady launch of products like DOGE and VSOL signals growing institutional acceptance, even as retail investors remain wary of further declines according to reports.