Bitwise Closes Dogecoin ETF Amid Lack of Trading Activity

Bitwise Asset Management has decided to liquidate and close its Dogecoin ETF (BWOW) less than a year after its launch in November 2025. The final trading day for the fund is expected to be October 14 on the New York Stock Exchange, with shareholders able to sell their shares through the close of that day.

The decision comes after BWOW failed to generate sustained trading activity, despite initially strong debut, with about $3 million in daily volume during its launch week. This is not an isolated case, as U.S. spot Dogecoin ETFs have struggled to attract significant flows and secondary-market activity.

According to data, combined Dogecoin ETF trading volume has reached approximately $300 million, a small fraction compared to other altcoin funds like Hyperliquid, Zcash, and Chainlink, which have generated significantly higher volumes. The closure of BWOW serves as an example of product rationalization in the expanding U.S. crypto ETF market.