Bitwise Dogecoin ETF Shuts Down With $722,000 Left: Will Rival Funds Follow?
Bitwise is shutting down its Dogecoin exchange-traded fund, BWOW, lower than 10 months after launching it. The fund drew so little cash that preserving it listed stopped making sense.
Trading ends on October 14, and buyers who maintain on receives a commission in money on October 22, primarily based on the fund’s worth the day earlier than. They must do nothing.
A Fund that Never Found Buyers
A spot Dogecoin ETF holds actual Dogecoin (DOGE), letting folks personal the meme coin by means of an atypical brokerage account.
BWOW opened on November 25, 2025, and charged 0.34% a yr. That made it the most affordable of the three US spot Dogecoin funds. Being most cost-effective didn’t assist.
It closed final week holding $721,820, roughly 6% of the $12.3 million unfold throughout all three funds. Data from SoSoValue places its lifetime web flows at unfavourable $1.23 million, which means more cash walked out than ever got here in.
Grayscale’s GDOG collected $11.7 million over the identical stretch. The 21Shares fund, TDOG, took $1.63 million. BWOW traded about $5,670 price of shares on September 9.
BeInCrypto flagged the issue in launch week, reporting that the Dogecoin ETF debut drew beneath $2 million in 48 hours and that Grayscale’s first day missed analyst targets.
Bitwise says it’s trimming its vary to swimsuit altering investor wants. The circulate information says no person confirmed up.
“Bitwise has decided to liquidate the Fund because it continues to optimize its product vary to satisfy evolving investor wants,” the announcement stated.
What Holders Should Watch
Until October 14, BWOW shares can commerce above or beneath the worth of the Dogecoin behind them. They sat 1.24% beneath it on September 9, and skinny quantity can stretch that hole.
Dogecoin, the meme coin the fund tracks, trades close to $0.0842, down 2.9% in 24 hours, price about $13.1 billion in complete. That slide is why the fund misplaced 45.37% from launch by means of August 30, by Bitwise’s personal reckoning.
Two Dogecoin funds stay listed, so that is one sponsor quitting somewhat than the class dying. Whether $12 million is sufficient to preserve the survivors alive is the following query.
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