Dogecoin’s aspiration to join the ranks of institutional ETFs faces a fundamental issue: a lack of interest from institutions. In a discussion on January 22 on the Crypto Prime podcast, Bloomberg Intelligence ETF analyst James Seyffart and host Nate Geraci, who is President of NovaDius Wealth Management, noted that spot Dogecoin ETFs have seen “almost zero” demand. This scarcity of interest is linked to the typical demographic of DOGE buyers and the concerns financial advisers have about reputational risks within client portfolios.
Challenges of a Dogecoin ETF
The number of ETF filings does not necessarily correlate with demand, with Dogecoin exemplifying this disparity. When asked which existing products stood out, Seyffart remarked, “nothing really stands out,” highlighting Dogecoin as the clear outlier due to its lack of appeal.
“To be honest, nothing stands out to me […] if I had to choose one, it would be that Doge ETFs have received almost no interest whatsoever,” he stated, adding that while some newer alternative coin products have performed adequately, Dogecoin has not.
My discussion with @JSeyff covers the current landscape of crypto ETFs…
We delved into:
-Crypto ETF sentiments
-150+ crypto ETF filings
-Morgan Stanley’s crypto ETFs
-BlackRock’s impending actions
-Index vs active crypto ETFs
-Recent fund flows
-Future prospectshttps://t.co/2TzJAnKXuKvia @CryptoPrimePod
— Nate Geraci (@NateGeraci) January 22, 2026
Seyffart and Geraci agreed on a key insight: the typical buyer of DOGE likely prefers direct purchases over an ETF structure, as they already have the necessary tools and habits. Seyffart recalled a conversation with colleagues at Bitwise, expressing doubt about the ETF’s appeal, noting, “Literally no one has bought the Doge ETFs […] I had low expectations, but I thought they might reach a point of marginal profitability.”
He pointed to Bitwise’s ETF—ticker BWOW—as an indicator of demand: “It’s not even at a million in assets right now,” he remarked, labeling the interest as “near zero demand.” He added, although these funds are new, the initial reception has been “very minor.” Geraci bluntly stated, “The demographic buying this are typically those who already know how to access it directly with their digital wallets, and they don’t need an ETF.”
Advisers’ Impact on Demand
Geraci highlighted another challenge for Dogecoin that may not be evident within crypto-centric narratives, but is significant in the ETF realm: the concerns of financial advisers. “Advisers are the predominant drivers of ETF investments. So if a Dogecoin ETF appears on a client statement, it signals a flashing red light, saying, ‘Please fire me,’” he explained. This perspective underscores the importance of understanding distribution dynamics.
Seyffart expressed enthusiasm for basket and index-style crypto ETFs, noting that financial advisers prefer not to navigate the growing array of cryptocurrencies individually. Geraci described a basket as a “convenient option” for professional allocators seeking crypto exposure without the need to vet each asset’s story or justify it to clients.
Seyffart indicated that the actual technological developments behind cryptocurrencies can influence adviser interest, contrasting niche infrastructure projects like Chainlink—with its connections between DeFi and TradFi—against meme assets like DOGE, which are perceived as less attractive for ETF buyers. As of the latest updates, DOGE was trading at $0.12479.
