Bitwise to Liquidate Spot Dogecoin ETF BWOW Less Than a Year After Debut

Bitwise said Thursday it will liquidate and wind down its spot Dogecoin exchange-traded fund, roughly 10 months after launch. The Bitwise Dogecoin ETF (BWOW) is expected to see its final trading session on the New York Stock Exchange on Oct. 14. The fund will be liquidated in cash, and the firm said shareholders do not need to take any action. Bitwise attributed the closure to an effort to streamline its product lineup and align offerings with shifting investor demand. BWOW began trading in November 2025 and saw about $3 million in volume on its first day, a level it has not matched since. SoSoValue data show the fund posted net inflows of about $318,000 last month, reversing a modest outflow in July. Spot Dogecoin ETFs first arrived in the U.S. in September 2025. Despite early attention, the category has struggled to attract sustained investor interest. Cumulative trading volume for Dogecoin ETFs stands at roughly $300 million, well below other crypto ETF alternatives such as Hyperliquid (about $2.1 billion), Zcash (about $1.5 billion) and Chainlink (about $680 million). (Source: ChainCatcher)