Bitwise to Shut Down Dogecoin ETF BWOW After Less Than a Year

Bitwise prepares to shut down its Dogecoin ETF BWOW on October 14 after investor demand declined from its $3 million opening-day volume.

Bitwise is shutting down its Dogecoin ETF, BWOW, less than a year after the fund began trading, as investor demand failed to maintain the level seen when the product launched.

BWOW will stop trading on NYSE Arca on October 14, according to BSCN. Bitwise will then distribute the fund’s remaining cash to investors following the termination of trading.

Dogecoin ETF Demand Falls After Strong Launch

BWOW recorded $3 million in opening-day trading volume when it launched last November. That initial activity, however, was not sustained, with the fund later declining to about $722,000.

The figures mark a substantial reduction from the level recorded when BWOW entered the market. BSCN reported the change as Bitwise prepares to discontinue the Dogecoin-focused exchange-traded fund.

The closure comes less than a year after the product’s launch, placing BWOW among crypto investment products that have struggled to maintain initial investor interest after entering the market.

Bitwise said it is optimizing its product range around evolving investor needs. The company did not indicate in the X post whether the decision was linked to any specific change in Dogecoin’s market conditions.

BWOW Trading to End October 14

The final trading date for BWOW on NYSE Arca is October 14. Cash will be distributed afterward as part of the fund’s closure.

For investors, the timeline means trading in the ETF will end before the remaining cash is distributed. The process follows Bitwise’s decision to remove the product from its lineup after the fund’s assets and trading activity failed to sustain the level of interest seen at launch.

The $722,000 figure cited by BSCN represents the fund’s reported level after its opening-day volume reached $3 million last November.

Bitwise Adjusts Its Product Range

Bitwise’s decision reflects a broader adjustment to its investment-product lineup, with the firm saying it is responding to changing investor needs.

BWOW’s closure also comes after a launch that initially generated $3 million in trading volume, indicating that early activity did not translate into sustained demand for the Dogecoin ETF.

The fund is scheduled to continue trading on NYSE Arca until October 14, after which Bitwise will proceed with the cash distribution.

writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.