Bitwise Cancels Dogecoin ETF Amid Low Demand and Liquidity Issues
Bitwise Investment Advisors is set to liquidate its Spot Dogecoin ETF (BWOW) on October 14, citing prolonged low liquidity and weak investor interest. The fund has experienced cumulative net outflows of $1.23 million and currently holds only $687,000 in net assets.
The decision to terminate the fund was made to optimize Bitwise's product lineup and better meet investor needs. Although Spot Dogecoin ETFs have attracted a relatively small amount of capital, with cumulative net inflows totaling $12 million, this is still a limited indicator of institutional enthusiasm for DOGE.
Low demand for the fund has also been reflected in Dogecoin's treasury holders, who have stopped buying. This lack of investment activity has contributed to bearish pressure on DOGE's price, which recently dropped below $0.083 and risks falling further towards the $0.08 support level.