Bitwise Shuts Down Dogecoin ETF Amid Low Investor Interest

Bitwise Asset Management has announced it will close its Bitwise Dogecoin ETF (BWOW) on NYSE Arca less than a year after launching. The decision to wind down the fund, which allows investors to gain indirect exposure to Dogecoin without holding DOGE, is part of an effort to streamline the company's product suite as investor needs change.

The ETF began trading on November 26, 2025, and allowed investors to indirectly hold Dogecoin. Despite its low volume, with estimates putting it at roughly $3 million in the first week, the fund struggled to attract significant investment. In August, US-based Dogecoin exchange-traded products saw net inflows of an estimated $318,000, but this was still far below the inflows of established products for Bitcoin and Ether.

Bitwise did not identify any particular amount of assets under management, trading volume, or operating expenses that led to the closure. The company plans to convert BWOW's Dogecoin to cash on or around October 14, with investors able to sell shares before market close on that day. Shareholders who remain in the fund will receive cash based on the October 21 net asset value.