Crypto
Bitwise Axes Dogecoin ETF BWOW Amid Uneven Demand
Bitwise has announced that it will shut down its Dogecoin exchange-traded fund (ETF), BWOW, which trades on NYSE Arca. The decision comes as the company reviews its ETF lineup and investor demand.
The final trading session for BWOW is set to take place on October 14, after which Bitwise will begin the liquidation process. Shareholders can sell their shares until then, but once trading closes, new shares will no longer be created.
After the ETF's assets are liquidated, shareholders who still hold BWOW will receive cash based on the fund's net asset value as of October 21, with payments scheduled for October 22. Investors do not need to take any action during this process.