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Following
DOGE 
NEAR 
SOL Bitwise announced the closure of its Dogecoin ETF due to weak investor demand.
Bitwise Asset Management announced that it will close its Dogecoin ETF due to sluggish investor demand for this product. Trading in the Bitwise Dogecoin ETF (code: BWOW) will cease on October 14, and shareholders are expected to receive cash distributions around October 22. The fund began trading on the NYSE Arca in November 2025 and had assets of approximately US$725,870 as of October 7, with recorded trading volume of approximately US$51,480 in September.
The Dogecoin ETF failed to attract fund investors
Although Bitwise CEO Hunter Horsley was personally interested in Dogecoin, he described the ETF's performance as disappointing. Horsley emphasized that although Dogecoin has established a distinctive identity in the field of digital assets, this has not translated into significant demand from traditional ETF buyers.
At the 2026 Asian Digital Assets Summit, Horsley delivered a speech on the closure, pointing to differences in interest in dogcoin between users of cryptocurrency trading applications and buyers of traditional exchange-traded funds. He refuted the idea that Bitwise was targeting the wrong market, pointing out that the two groups of people had very different preferences and behavioral patterns.
Horsley pointed out that traditional ETF investors are fundamentally different from investors who have direct access to cryptocurrencies through digital platforms, and emphasized that reaching busy professional investors remains a major challenge to promote widespread adoption.
Strong demand for Solana and NEAR funds
Although the Dogecoin ETF uptake is limited, other Bitwise products have received more enthusiastic attention. Bitwise Solana Pledge ETF (code: BSOL) currently has approximately US$1.3 billion in assets under management. According to Horsley, the success of Solana funds stems from investors 'desire for Solana exposure, which is not only driven by pledge rewards, but also involves a broader ecosystem, including stablecoins, tokenized assets and on-chain services.
Bitwise also recently launched an ETF linked to the NEAR Protocol, a blockchain project focusing on interoperability between different networks. The NEAR ETF attracted $58 million in inflows in the first week, indicating that the market has a stronger appetite for new blockchain projects that promote cross-chain asset transfers.
Noun explanation: NEAR Protocol is a Proof-of-Stake layer 1 blockchain known for its emphasis on cross-chain compatibility, allowing users and decentralized applications (dApps) to efficiently transfer tokens and data between different blockchain networks.
Investor interest in Solana and NEAR funds far exceeds Dogcoin ETFs, reflecting broader confidence in projects with cross-chain services and rapidly expanding ecosystems.
Bitwise focuses on artificial intelligence investment products
Looking to the future, Bitwise is increasing its focus on its artificial intelligence investment products. In August this year, the company submitted an application for an AI Cybersecurity Defense ETF; in September, it submitted a request for an AI Bond ETF. However, the submission of regulatory documents does not guarantee that these products will eventually be marketed.
Bitwise believes that with the increasing use of automated software agents (sometimes leveraging artificial intelligence), the need for cross-chain asset management and transfer services will increase, especially for networks where interoperability is a priority, such as the NEAR Protocol.
The broader cryptocurrency industry is also embracing AI-based solutions. Binance, the world's major exchange, has launched new AI-driven capabilities designed to provide users with market information and automate trading strategies, while also serving the developer community.
For long-term investors, Horsley highlighted Bitwise's BITW and BITQ index funds, which provide diversified exposure to the digital asset market for investors who want to avoid managing individual cryptocurrencies or platforms.
