Bitwise Axes Dogecoin ETF Due to Uneven Demand

Bitwise Asset Management has announced it will shut down its Dogecoin exchange-traded fund, BWOW. Trading of the ETF on NYSE Arca will end on October 14th.

The decision comes as Bitwise reviews its ETF lineup and investor demand for single-asset crypto funds has been uneven. While products tied to Bitcoin and Ethereum have attracted larger asset bases, smaller-token funds like BWOW face a more competitive market.

Shareholders can sell their shares until the final trading session on October 14th, after which Bitwise will begin winding down the ETF and stopping new share creation. Following this process, shareholders who still hold BWOW will receive cash based on the fund's net asset value as of October 21st.