Bitwise Shuts Down Dogecoin ETF BWOW Less Than a Year After Launch

Bitwise Investment Advisers said on September 10 that it will liquidate and close the Bitwise Dogecoin ETF (BWOW), less than a year after the fund began trading. The firm said the move is part of an effort to optimise its product range for evolving investor needs, while shareholders face an October deadline before the ETF stops trading on NYSE Arca.

BWOW liquidation and NYSE Arca deadline

BWOW is expected to cease trading on NYSE Arca after October 14, 2026, according to Bitwise's Form 8-K filing. Investors who remain in the fund are scheduled to receive cash based on its net asset value as of October 21, with the distribution expected on or around October 22.

After the liquidation, BWOW holders will no longer own ETF shares. Beyond Bitwise's stated product-range rationale, the filing provided no further explanation for the closure.

BWOW assets before closure

BWOW reported about $687,713 in net assets as of September 9. The fund held 8,195,053.02 DOGE in trust and had 50,000 shares outstanding, according to the ETF's official website.

That sub-$700,000 asset base indicates the limited scale of the product shortly before Bitwise announced the liquidation. It also provides context for the manager's decision to streamline its ETF range, though Bitwise did not identify assets or trading activity as the reason for closing BWOW.

Dogecoin ETF launch volume faded

The Block reported that BWOW began trading in November 2025 and recorded roughly $3 million in trading volume during its launch period, but did not return to that level afterward. The closure will end a Dogecoin-focused ETF that had existed for under a year. Shareholders can exit through the market until trading ends after October 14; those still holding shares will enter the scheduled cash-distribution process.

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