Bitwise Shuts Down Dogecoin ETF Amid Lineup Review
Bitwise, a financial firm specializing in cryptocurrency and exchange-traded funds (ETFs), has announced that it will be shutting down its Dogecoin ETF, BWOW. The trading of BWOW on NYSE Arca will end on October 14th.
According to Bitwise, the decision to shut down the ETF was made after reviewing its lineup and investor demand. Shareholders can sell their shares until the final trading session ends on October 14th.
After the trading closes, Bitwise will begin the liquidation process, which includes winding down the ETF and stopping new share creation by October 15th. Shareholders who still hold BWOW shares will receive cash based on the fund's net asset value as of October 21st, with payments scheduled for October 22nd.
Bitwise is working closely with NYSE Arca to ensure a smooth delisting and liquidation process.