Bitwise Closes Dogecoin ETF Amid Market Uncertainty
The Bitwise Dogecoin ETF (BWOW) has been shut down after only ten months on the market. The fund's cumulative net inflow sits at negative $1.23 million as of September 13, 2026, with net assets shrinking to around $690,490.
This closure is a significant development for Dogecoin enthusiasts, and its impact on the cryptocurrency's price remains uncertain. Despite this setback, Dogecoin has managed to maintain some trading interest, with spot volume reaching $86.86 million and futures volume at $580.26 million over 24 hours. Open interest reads $1.25 billion.
Some analysts have downplayed the significance of the ETF closure, suggesting that a single issuer walking away is not a major signal for Dogecoin's future prospects. However, others argue that institutional patience has limits, and this development could test the recent price bounce.
A crowded long side on Binance DOGE/USDT, with a long-to-short ratio of 2.4083, and rising four-hour liquidations may also pose challenges for Dogecoin's short-term prospects. Nonetheless, its market capitalization remains substantial, dwarfing other meme coins.