Bitwise Axes Underperforming Dogecoin ETF Amid Lack of Investor Interest
Bitwise has announced it will shut down its Dogecoin exchange-traded fund (ETF), BWOW, after less than ten months of operation. The fund, launched on November 25, 2025, drew a mere $721,820 in assets, a fraction of the $12.3 million held by rival funds Grayscale's GDOG and 21Shares' TDOG.
The decision to liquidate BWOW comes as the company seeks to optimize its product range to meet evolving investor needs. The fund traded just $5,670 worth of shares on September 9, highlighting its lack of appeal to investors.
Dogecoin (DOGE) has been struggling in recent days, with prices down 2.9% over the past 24 hours and a market capitalization of around $13.1 billion. The decline has contributed to BWOW's losses, which stand at 45.37% since launch.
Investors holding BWOW shares will be paid out in cash on October 22, based on the fund's value on October 21. Trading in BWOW shares will cease on October 14.