Bitwise Shuts Down Dogecoin ETF as Investor Interest Fades

Bitwise has announced that it will shut down its Dogecoin ETF (BWOW) on October 14, less than a year after its launch. The fund's trading will cease on NYSE Arca prior to the opening bell, and shareholders can sell their shares on the secondary market up to this point.

The liquidation is part of Bitwise's efforts to optimize its product lineup in response to shifting investor demand. Remaining shareholders who do not sell their shares by October 14 will receive cash distributions based on the per-share net asset value calculated on October 21, with payments made automatically through brokerages and other financial intermediaries on or around October 22.

BWOW's scale never grew significantly, with a net asset total of approximately $721,815 as of September 8. The fund held 8,195,053.02 DOGE tokens, but liquidity was thin, with a 30-day median bid-ask spread at 0.61% and a premium/discount of -1.29% on the same day.