Bitwise to Liquidate Dogecoin ETF, With Final Trading Expected Oct. 14

Bitwise will wind down its spot Dogecoin ETF roughly 10 months after its debut, marking an early end to the fund after limited uptake.

The fund, BWOW, is expected to have its final NYSE trading session on Oct. 14, Bitwise said Thursday. Investors can dispose of shares in the secondary market until the market closes that day.

Any shares still outstanding will be settled in cash on Oct. 22. The payout will be calculated using its Oct. 21 net asset value, and remaining shareholders will not be required to take any action.

BWOW Closure Follows Weak Dogecoin ETF Uptake

Dogecoin ETFs have attracted substantially less trading than several other altcoin ETFs. Their cumulative volume stands at about $300 million, compared with $2.1 billion for Hyperliquid products, $1.5 billion for Zcash and $680 million for Chainlink.

Net flows have also remained limited. Dogecoin ETFs brought in about $318,000 last month, according to SoSoValue, enough to reverse the small net outflows recorded in July.

BWOW’s strongest daily trading volume was about $3 million during its launch week.

The broader category dates to September 2025, when the first Dogecoin ETF debuted amid considerable hype over spot funds tied to the cryptocurrency.

Bitwise said it decided to liquidate BWOW as the company continues to optimize its product lineup to meet evolving investor needs.

Dogecoin Slips From Crypto’s Top 10

Bitwise’s decision also comes as Dogecoin has lost ground in the broader crypto market.

DOGE was priced at roughly $0.084 at the time of writing, corresponding to a market capitalization of about $13 billion. The token has fallen outside the top 10 largest cryptocurrencies over the past year amid the rise of HYPE and ZEC.

Despite the fund’s closure, Bitwise executives have previously spoken positively about Dogecoin’s staying power.

Bitwise CEO Hunter Horsley described Dogecoin last year as an asset that started as a joke before becoming an icon of the crypto movement. He said DOGE does not claim to transform global capital markets or present investors with fundamentals or utility.

Horsley also said that, despite those characteristics, Dogecoin had maintained its relevance and value longer than nearly anything else in crypto.