Bitwise Shuts Down Failing Dogecoin ETF Amid Market Headwinds

Bitwise Asset Management is shutting down its Dogecoin ETF after less than a year in operation. The Bitwise Dogecoin ETF, or BWOW, will stop trading on NYSE Arca on October 14 and be liquidated the following week. According to Bitwise, this decision is part of an effort to optimize its product lineup as investor needs evolve.

The fund has struggled to gain traction, managing only about $700,000 in assets. This represents a tiny fraction of the broader US Dogecoin ETF market, which has seen around $12 million in cumulative net inflows and manages roughly $11.83 million in assets. SoSoValue data show that BWOW accounted for only a small portion of these assets and recorded about $1.23 million in cumulative net outflows.

The lack of investor interest is reflected in the fund's trading history, which shows non-zero daily net flows on only three days during its entire existence. It wasn't until August 24 that BWOW registered an inflow, with around $146,000 entering the product. Before then, investors withdrew roughly $972,000 on December 4, 2025, followed by another $406,000 on January 20, 2026.