Regulatory Approval Not Enough for Crypto Funds: Bitwise Closes Dogecoin ETF

Bitwise is discontinuing its Dogecoin ETF in October, just a short while after trading began. This decision indicates that regulatory approval and access to brokerage firms do not guarantee sustainable demand for a crypto fund focused on a single token.

The Dogecoin ETF started trading this summer and was one of the first to gain approval from regulators. However, Bitwise has decided to close it down due to lack of interest, sending a warning signal that gaining regulatory approval is only half the battle in the cryptocurrency market.