BWOW Shutdown Sparks Concerns Over Dogecoin's Institutional Appeal

Bitwise's decision to shut down its Dogecoin ETF, BWOW, has raised questions about institutional interest in the cryptocurrency. The fund, which launched on November 26, 2025, had a negative cumulative flow of $1.23 million and total assets of $690,490.

The closure comes after Bitwise announced that it would liquidate and close BWOW to simplify its product lineup and better meet investor needs. The ETF's last trading day on the NYSE Arca will be October 14, with the remaining funds to be paid to shareholders around October 22.

According to TradingView charts, Dogecoin is currently testing key support near $0.08 after failing to hold above $0.0855. If DOGE falls below this level, the price could drop toward the next major target near $0.0695.