Bitwise revealed that the company will liquidate its Dogecoin ETF “BWOW” fund, which is less than a year away from its listing in November 2025. According to the plan, BWOW is expected to have its last trading day on October 14th, with the trading venue being NYSE Arca.
The fund will end its operations in less than a year.
This product will start trading on November 26, 2025, and is mainly targeted at investors who prefer to configure Dogecoin through brokerage accounts rather than directly holding the tokens. If the current schedule is followed, the fund's duration will be less than 11 months.
Bitwise stated to investors that shutting down BWOW is part of the company's effort to 'optimize its product range to adapt to changes in investor needs.' The company did not cite the current size of the fund as a direct reason for the closure.
Asset size is approximately $722,000.
As of September 8, the net assets of BWOW were approximately $722,000. According to the fund's official website, it currently holds about 8.2 million DOGE, which are valued at around $688,000 based on the figures mentioned in the text.
This means that after BWOW was launched during a wave of product expansion in ETF, it did not achieve a large scale. In the past two years, the issuers have gradually expanded from Bitcoin and Ethereum products to funds that track more tokens.
- As of September 8, the net assets were approximately $722,000.
- Currently holding approximately 8.2 million DOGE.
- October 14th is expected to be the last trading day.
Dogecoin Fund shrinkage after expansion
As early as January 2025, efforts began to launch this fund, with the Dogecoin ETF entity first being registered in Delaware. By November 2025, the company removed a provision for delayed effectiveness from the registration documents submitted to the US Securities and Exchange Commission (SEC), allowing the documents to take effect 20 days later without any intervention from regulatory authorities.
When BWOW went public, it coincided with an period when crypto fund issuers were accelerating the launch of clone coin-related products. In addition to Bitwise, Grayscale also launched Dogecoin and XRP ETF products around the same time.
The CEO, Hunter Horsley, stated at the time of the fund's launch that Dogecoin possessed sustained appeal and that there was a large group of holders with a demand for exchange-traded products. However, now, less than a year after its launch, this product has entered the liquidation process.
