According to @EricBalchunas, GDOG, the first Dogecoin spot ETF, recorded $1.4 million in first-day trading volume. Source: @EricBalchunas on X, Nov 25, 2025. He stated this is solid for an average ETF launch but low for a first-ever spot product. Source: @EricBalchunas on X, Nov 25, 2025. He reiterated the view that the further a product is from BTC, the less asset it attracts, highlighting weaker demand as products move away from Bitcoin. Source: @EricBalchunas on X, Nov 25, 2025.