Dogecoin
Bitwise to Liquidate Dogecoin Exchange-Traded Fund Following Low Demand
The asset manager will close its spot Dogecoin fund in October after managing only 722,000 dollars in total assets.
Bitwise has announced the closure and liquidation of its spot Dogecoin exchange-traded fund, BWOW, less than ten months after its November 2025 launch. Trading in the product will conclude on October 14, with remaining shareholders scheduled to receive cash payouts on October 22 based on the portfolio's value on October 21.
Despite offering the lowest annual fee among US spot Dogecoin products at 0.34%, the fund failed to attract sustained capital. BWOW held just $721,820 in assets, representing roughly 6% of the $12.3 million invested across all three listed US spot Dogecoin funds, and registered negative lifetime net flows of $1.23 million alongside daily trading volume of only $5,670 on September 9.
In comparison, Grayscale's GDOG has accumulated $11.7 million and 21Shares' TDOG holds $1.63 million. The underlying cryptocurrency traded near $0.0842 with a $13.1 billion market cap, down 2.9% in 24 hours, contributing to a 45.37% loss for BWOW between its inception and August 30. Bitwise stated the liquidation is part of ongoing efforts to adjust its offerings to investor demand.
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