Bitwise Shuts Down Spot Dogecoin ETF Amid Fading Investor Interest

Bitwise Asset Management has announced that it will be shutting down its spot Dogecoin ETF (BWOW) just 10 months after its launch. The fund, which trades on NYSE Arca, will cease operations on October 14th and investors will receive the net asset value of their shares in cash by October 22nd.

The decision comes as investor demand for spot Dogecoin ETFs has struggled to attract steady interest. In September, more than $343 million was pulled from the fund, with a lifetime net outflow standing at $1.23 million.

Bitwise's move is part of its efforts to optimize its product range and meet changing investor needs. The firm has coordinated with NYSE Arca to facilitate the fund's delisting and liquidation.