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 
NEAR 
SOL Bitwise will stop trading in BWOW after October 14 due to weak demand.
Due to sluggish market demand, Bitwise announced that it will close its spot dogcoin ETF (code: BWOW) less than a year after its launch on the New York Stock Exchange (NYSE) in November 2025. As of October 7, the ETF held approximately US$725.87 million in assets, compared with only US$51.48 million in September's trading volume.
Hunter Horsley, CEO of Bitwise, pointed out that this result highlights the clear gap between traditional ETF buyers and crypto application users. Although Dogecoin has widespread recognition in the cryptocurrency field, the ETF has failed to translate it into continued demand from ETF investors. Horsley said ETF users have shown little interest in allocating funds to dogcoin.
The closure of the Dogecoin ETF reveals weak demand from buyers.
BWOW will stop trading after October 14, and remaining shareholders will receive cash after liquidation. Previously, PR Newswire reported that Bitwise launched the fund in November 2025 to provide investors with regulated dogcoin exposure through exchange-traded products. However, it turns out that the widespread popularity of Dogecoin has not brought the expected enthusiasm for institutional investment.
Horsley refuted Bitwise's view of selecting the wrong audience, emphasizing that ETFs are essentially access channels rather than tools to ensure demand generation. The data further confirms this weakness: On the eve of the shutdown, BWOW held less than $1 million in assets, despite receiving widespread attention when it launched. Compared with large crypto investment products, trading activity in September remained limited.
狗狗币ETF陷入困境，Solana基金吸引数十亿美元
狗狗币ETF的表现与Bitwise的Solana质押ETF形成了鲜明对比。Horsley表示，Solana产品得益于其质押功能，净资产已达到约13亿美元。他认为，投资者还将Solana视为代币化、稳定币和链上金融应用的底层基础设施。这使得该资产通过ETF结构提供的机构投资逻辑比狗狗币更为清晰。
Bitwise正在继续扩大其产品线，超越迷因币（Memecoin）产品。该公司最近推出了现货NEAR ETF，并申请了两只专注于人工智能领域的基金。Horsley表示，Bitwise将继续评估传统投资者真正希望通过受监管产品参与的主题。
预计狗狗币ETF将在最后一个交易日后停止运营。剩余股东计划于10月22日收到清算所得款项。
