Bitwise to Close Dogecoin ETF After Failing to Attract Investor Demand
Bitwise is shutting down its Dogecoin ETF, traded under ticker BWOW, after failing to attract meaningful demand and managing just $726,000 in assets by October 2026.
Bitwise’s Dogecoin exchange-traded fund, traded under the ticker BWOW, is set to shut down after failing to attract significant demand. Launched in November 2025 on the New York Stock Exchange, the fund managed a meager $726,000 in assets as of October 7, 2026. Its September trading volume totaled just $51,500, an exceptionally low figure for an exchange-traded investment product.
Bitwise CEO Hunter Horsley stated that the fund's closure illustrates the gap between traditional brokerage account investors and crypto users trading through dedicated apps. He noted that despite Dogecoin's popularity within the crypto community, this interest failed to translate into ETF investments. Bitwise added that the decision is part of aligning its product lineup with investor needs.
Trading in the fund is scheduled to end on October 14, with liquidation slated to conclude later in the month. Remaining unit holders are expected to receive cash distributions based on asset value on October 21, with payouts planned for October 22. This closure affects solely this specific fund and does not halt trading in Dogecoin or other meme coin ETFs.
The sharp contrast between this underperforming fund and mainstream Bitcoin ETFs highlights a core challenge for meme coin financial products: online hype and social media popularity do not guarantee traditional investor demand. It remains to be seen whether other altcoin-based ETFs can sustainably attract capital over time.