Bitwise will shut its Dogecoin (DOGE) exchange-traded fund on Oct. 14, closing a memecoin experiment that held about $688,000 less than 10 months after launch.
Key Points:
- Bitwise is liquidating its Dogecoin ETF, ticker BWOW, and trading on NYSE Arca ends Oct. 14.
- Remaining holders get cash based on the fund's net asset value as of Oct. 21, with payment on or about Oct. 22.
- The fund began trading in late November 2025 and held roughly $688,000 in net assets as of Sept. 9.
Bitwise Ends BWOW Trading Oct. 14
Bitwise Investment Advisers notified NYSE Arca on Sept. 10 that it would voluntarily close, delist and liquidate the fund, then withdraw its shares from registration.
The sponsor described the decision as an effort to optimize its product range for evolving investor needs. It pointed to nothing else, naming neither trading volume nor assets under management.
Shareholders who want out at a market price can sell through the close on Oct. 14, and Bitwise plans to convert the fund's remaining Dogecoin into cash that same day. Anyone still holding after that gets redeemed automatically through a broker at the Oct. 21 net asset value, with the money landing on or about Oct. 22, and the filing warns those payments are taxable.
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Dogecoin ETF Demand Trailed Rivals
Demand never arrived.
The fund held about $688,000 in net assets as of Sept. 9, according to its own published fund data, after opening for trading in late November 2025. Every U.S. Dogecoin product combined drew roughly $318,000 in net inflows during August, figures from SoSoValue showed, and the category has turned over close to $300 million in volume since launch. That August number counted as an improvement, because the same products had posted modest outflows a month earlier.
Funds tied to Hyperliquid (HYPE) recorded $2.1 billion on that same measure, while Zcash (ZEC) and Chainlink (LINK) products reached about $1.5 billion and $680 million. BWOW charged a slim 0.34% fee and still could not turn Dogecoin's name recognition into money that stayed, and the token itself traded near $0.084 on Friday, down about 2.6%.
Bitwise Trims Its Crypto ETF Lineup
Closing BWOW does not pull Bitwise out of the exchange-traded fund business, since the manager reports roughly $9 billion in client assets across more than 70 products spanning ETFs, staking, private funds and separately managed accounts.
The wind-down also caps a week of pruning at the San Francisco firm, which has spent the past few days reshaping its shelf rather than retreating from it.
Hours before the Dogecoin notice went out, Bitwise disclosed plans to close its Trendwise Ethereum (ETH) and Treasuries Rotation Strategy ETF, which stops trading and stops taking creation orders on Oct. 2. That fund sets its final net asset value on Oct. 9 and liquidates on Oct. 13, nine days before BWOW hands its last dollars back to shareholders.
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