Bitwise Closes Dogecoin ETF Amid Broader Pullback in Altcoin Demand

Bitwise is shutting down its Dogecoin ETF ($BWOW) less than a year after its launch. Trading will end on October 14, with remaining shareholders being cashed out the following week. This marks the 10th ETF liquidation this year for Bitwise, with assets dropping roughly 40% from $9 billion at launch to the current value. According to the company, it is optimizing its product lineup in response to investor demand.

The closure comes as Dogecoin (DOGE) trades at $0.08343, down 2.5% over 24 hours and 4.2% over the past week. This decline reflects a broader pullback in demand for smaller altcoin exposure through ETF wrappers. It's worth noting that Bitwise cited efforts to optimize its product lineup as the reason for the closure.