Bitwise Shuts Down Dogecoin ETF After Struggling to Attract Investors

Bitwise has decided to close its Dogecoin ETF, BWOW, less than a year after its launch on November 26, 2025. The fund had struggled to attract significant investment, with only about $688,000 in net assets as of September 9, according to data cited by Cointelegraph. Despite the initial hype surrounding its listing on the NYSE Arca, BWOW never regained the $3 million in volume it saw during its first session.

The fund's quarterly documents reveal a sharp decline in interest, with net assets decreasing from $1.15 million at the end of 2025 to just over $473,000 by June 30, 2026. This represents a drop of nearly 59% in six months. The price of Dogecoin also fell during this period, from $0.116546 to $0.072199.

Bitwise has attributed the closure of BWOW to its desire 'to optimize its product range' according to evolving investor needs. The company will reimburse investors with cash on October 22, following a final trading day on October 14. This marks the second closure for Bitwise in 2026, after it liquidated two other ETFs in May.