Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
DOGE 
ETH Bitwise will close its Dogecoin ETF on October 14
Bitwise announced that it will stop trading in its Dogecoin (DOGE) exchange-traded funds (ETFs) on October 14, marking the official end of a less than 10-month-old minicoin experiment. The fund faced asset losses shortly after its launch, with net assets of approximately $688,000 as of September 9.
Key Points
- Bitwise is liquidating its Dogecoin ETF (code: BWOW), whose trading on NYSE Arca will close on October 14.
- The remaining holders will receive cash redemption based on the fund's net asset value on October 21, and the payment is expected to arrive on or around October 22.
- The fund began trading in late November 2025 and held net assets of approximately US$688,000 as of September 9.
Details of the termination of the BWOW transaction
Bitwise Investment Advisers officially notified NYSE Arca on September 10 of its decision to voluntarily close, delist and liquidate the fund, and withdraw its share registration. Sponsors described the decision as an effort to "optimize the product portfolio to adapt to changing investor needs." However, the announcement did not mention specific trading volume or asset management scale and other data as a basis.
For shareholders who want to exit at market prices, they can sell their shares through the market before the close on October 14. Bitwise plans to convert the remaining Dogecoin held by the fund into cash on the same day. Investors who still hold shares after that will automatically redeem them through a broker based on the net asset value on October 21, and the funds are expected to arrive on or around October 22. The documents also warn that these payments may have tax implications.
Demand for Dogecoin ETF fell short of expectations
Market demand has never arrived. According to data released by the fund itself, after the fund opened trading in late November 2025, its net assets as of September 9 were only approximately US$688,000.
Data shows that all U.S. Dogecoin-related products together attracted a net inflow of approximately US$318,000 in August. Since its launch, trading volume in this category has reached nearly $300 million. Although August's numbers improved from the previous month's modest outflows, overall performance remained weak. In comparison, funds linked to Hyperliquid (HYPE) reached $2.1 billion on this indicator, while Zcash (ZEC) and Chainlink (LINK)-related products reached approximately $1.5 billion and $680 million respectively.
BWOW charges only a low management fee of 0.34%, but fails to translate Dogecoin's brand awareness into sustained capital inflows. On Friday, the price of the Dogecoin token was reported at around $0.084, down about 2.6%.
Bitwise scales back its cryptocurrency ETF product line
Closing BWOW does not mean Bitwise is withdrawing from the ETF business. The regulator reported that across its more than 70 product lines covering ETFs, pledges, private equity and separately managed accounts, total client assets were approximately $9 billion.
The liquidation also marks the culmination of a series of streamlining operations the San Francisco company has undertaken over the past week. In the past few days, the company has been reshaping its product shelves, not shrinking. Hours before the Dogecoin announcement, Bitwise disclosed plans to close its Trendwise Ethereum (ETH) ETF and the Treasury Rotation Strategy ETF. The latter will stop trading and stop accepting creation orders on October 2. The final net asset value is scheduled to be determined on October 9 and liquidation will be completed on October 13, nine days before BWOW returns the last payment to shareholders.
