Bitwise Closes Dogecoin ETF After Minimal Investor Interest
Bitwise has announced the closure of its Dogecoin exchange-traded fund (ETF), BWOW, after less than ten months in operation. The fund failed to attract significant investor interest and ended with only $721,820 under management as of September 9, representing just 6% of total assets across all three U.S.-listed spot Dogecoin ETFs. Despite being the cheapest option at an annual fee of 0.34%, BWOW experienced negative net flows over its lifetime and traded with minimal volume. The remaining two funds—Grayscale's GDOG ($11.7 million) and 21Shares' TDOG ($1.63 million)—have higher assets under management, but the future of these products remains uncertain given low overall demand for Dogecoin ETFs. Bitwise cited evolving investor needs as a reason for liquidating BWOW by October 14, with investors to be paid out in cash on October 22. Dogecoin itself has declined significantly since the fund's launch, down nearly 45% through August 30 and trading near $0.0842 at press time.
Tickers: $GDOG