Bitwise Shuts Down Dogecoin ETF Amid Institutional Interest Concerns

Bitwise has announced that it will shut down its Dogecoin ETF (BWOW) effective October 14. The closure comes less than a year after the fund launched on November 26, 2025. According to Bitwise, the decision is part of an effort to simplify its product lineup and better meet investor needs.

The BWOW fund has struggled with low institutional interest in Dogecoin. With total assets of $690,490 and a negative cumulative flow of $1.23 million, the closure may be seen as a sign that investors are losing confidence in DOGE. However, Bitwise did not attribute the decision to weak demand or poor performance.

DOGE's price is also a concern for traders. Currently trading around $0.0843, the coin has failed to stay above $0.0855 and is testing key support levels near $0.08. A break below this level could lead to a deeper decline, with $0.0695 emerging as the next major downside target.

While the closure of BWOW may be negative for Dogecoin's institutional image, it is unlikely to cause a significant price drop on its own. The wider crypto market and DOGE's price levels will likely play a more important role in determining the coin's next major move.