Bitwise to Liquidate Dogecoin ETF After Less Than a Year
Bitwise Announces Dogecoin ETF Liquidation
Crypto asset manager Bitwise is shutting down its spot Dogecoin exchange-traded fund (ETF), the BWOW. The firm announced the liquidation on Thursday, September 10, 2026.
The last day of trading for BWOW on the NYSE is expected to be Wednesday, October 14. Shareholders may sell their shares on the secondary market until the close on that date. Remaining shareholders will receive cash equal to the net asset value of their shares on October 22.
Key Details of the Closure
- The fund will be fully liquidated and closed.
- Final trading day: October 14, 2026.
- Cash distribution date for remaining shareholders: October 22, 2026.
- Bitwise cited a need to "optimize its product range to meet evolving investor needs" as the reason.
- The ETF launched in November 2025, less than a year ago.
What Bitwise Said
In an official press release, Bitwise stated the decision was made as "it continues to optimize its product range to meet evolving investor needs." The release did not provide further specific reasons for the closure.
Poor Performance Amid Broader Market Challenges
The closure follows a period of low investor interest. According to data from SoSoValue cited in the article, Dogecoin ETFs recorded about $318,000 in net inflows last month. The BWOW fund itself generated approximately $3 million in trading volume when it launched in November 2025 but failed to reach similar levels afterward.
The article notes that all spot Dogecoin ETFs have struggled. Their combined trading volumes of around $300 million are significantly lower than those of other altcoin ETFs, such as Hyperliquid ($2.1 billion) and Zcash ($1.5 billion).
The Unconfirmed Reason for Low Interest
The source material does not confirm a specific reason for the poor performance of Dogecoin ETFs. It mentions there was "a lot of hype" before their launch, but states that the funds "failed to take off with investors." It does not provide a clear explanation for this outcome.
What Happens Next for Shareholders
Shareholders do not need to take any action. Those who sell their shares before October 14 can do so on the secondary market. Those who hold their shares will automatically receive a cash payout equal to the net asset value per share on October 22.
Sources
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