Bitwise is shutting down its spot Dogecoin ETF (BWOW) after 10 months due to weak investor demand, with trading ceasing October 14.
Ecosystem ·
Bitwise is winding down its spot Dogecoin ETF, BWOW, less than a year after launch, citing weak investor interest. Trading will cease on October 14, after which remaining shareholders will receive cash redemptions valued at the fund's net asset value on October 22.
The product has faced persistent outflows. In September alone, investors withdrew over $343 million, while the fund posted only $318,000 in net inflows the prior month. This poor performance comes despite Dogecoin itself rising 20% during the period, suggesting structural challenges in the ETF's appeal rather than asset-class weakness.
The closure underscores the difficulty some specialized crypto ETFs face in sustaining investor capital. Whether Bitwise will attempt to relaunch a Dogecoin product or shift strategy remains unannounced.