Dogecoin, Completely Defeated by XRP in ETF Race...6-Month Report Shows "88x Gap"

▲ XRP, Dogecoin (DOGE)/AI Generated Image

Six months have passed since the simultaneous launch of XRP and Dogecoin (DOGE) spot ETFs. Currently, XRP has recorded overwhelming capital inflows, leaving Dogecoin far behind.

According to crypto media outlet Bitcoinist on April 17 (local time), the performance of the two cryptocurrency spot ETFs, simultaneously approved in November 2025, was distinctly different from market expectations. Contrary to the initial hype at its launch, the Dogecoin spot ETF saw sluggish actual capital inflows. According to an analysis by virtual asset data platform SoSoValue, the Dogecoin spot ETF only attracted $2.16 million in capital during its first month of launch in November 2025. At that time, its total net asset value recorded $6.29 million.

The Dogecoin spot ETF showed a slowdown in growth thereafter. In December 2025, the cumulative net inflow was $2.34 million, a slight increase from the previous month. In January 2026, it recorded a cumulative net inflow of $6.41 million, with its total net assets surpassing $10 million for the first time, peaking but failing to maintain it. In April 2026, capital inflows occurred on only two days during the first two weeks. After $1.34 million on April 10 and $187,370 on April 14, no further activity was detected, and its current total net assets remain at $10.8 million.

In contrast, the XRP spot ETF is performing brilliantly in the market and sailing smoothly. In its first month of launch in November 2025 alone, the XRP spot ETF dominated the market by recording a cumulative net inflow of $666.61 million. Within a month, its total net assets surged to $687.81 million. In the subsequent December 2025, it achieved a cumulative net inflow of $1.17 billion, pushing its total net assets above $1.2 billion. Although the inflow volume decreased somewhat thereafter, significant capital inflows were consistently observed each month.

As of April 2026, the XRP spot ETF has already recorded monthly net inflows of over $12 million, and its cumulative total net inflow amounts to $1.22 billion. Although its total net assets briefly dipped below $1 billion earlier this year due to asset value fluctuations, it currently maintains a level of $959 million, demonstrating robust liquidity. Compared to the total net assets of the Dogecoin spot ETF, XRP's fund size is approximately 88 times larger.

This data indicates that institutional investors are much stronger supporters of XRP than Dogecoin. The success of the XRP spot ETF is a result of Ripple's legal clarity and practical utility for settlements acting as key drivers for attracting institutional funds. Institutions managing large capital are focusing their investments on assets with solid technological fundamentals rather than highly volatile memecoins. The gap between the two assets in the spot ETF market is expected to become increasingly pronounced.

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