Bitwise Cuts Ties with Dogecoin Amid Weak Demand and Rising Interest Rate Odds
Bitwise has announced that it will shut down its Dogecoin ETF (BWOW) on October 14, citing weak demand as the reason. The ETF has only seen one day of inflows since it started trading in November 2025 and has a net asset value of $687,000. This is part of Bitwise's strategy to optimize its product range and meet evolving investor needs.
The closure comes amid a broader crypto market downturn, with Bitcoin (BTC) and Ethereum (ETH) also edging lower after US PPI rose to 5.4% and increased the odds of the Fed hiking interest rates. Dogecoin's open interest has dropped from $1.41 billion to $1.26 billion, with long liquidations outpacing short liquidations for six straight days.
Dogecoin price is currently at $0.083, testing a crucial support level as bearish momentum strengthens. If the price drops below this support, it could move to the psychological support at $0.080. However, the RSI line has moved from 30 to 35, suggesting that Dogecoin price is recovering from being oversold.