Bitwise Shuts Down Dogecoin ETF After Just 10 Months
Bitwise has announced that it will liquidate its spot Dogecoin ETF (BWOW) after about 10 months of trading. The fund's last NYSE trading day is expected on October 14, with remaining assets to be distributed to shareholders based on the net asset value on October 21.
The firm stated that it has determined to liquidate the fund as part of its efforts to optimize its product range and meet evolving investor needs. The Bitwise Dogecoin ETF failed to match its launch-week trading volume, peaking at around US$3 million in daily trading volume but dropping to about US$318,000 in net inflows during August.
The decision comes as spot Dogecoin ETFs have attracted weak investor flows since launching last year. The move may be a reflection of the cryptocurrency market's volatility and shifting investor sentiment.