Bitwise announced the liquidation of the Dogecoin ETF, less than a year after its launch

Cryptocurrency asset management company Bitwise announced on Thursday that it will liquidate and close its spot Dogecoin (DOGE) exchange-traded fund, approximately 10 months after the fund's launch. The last trading day for the Bitwise Dogecoin ETF (BWOW) on the New York Stock Exchange is expected to be October 14, and the liquidation will be conducted in cash, with shareholders needing to take no action.

Bitwise stated that the decision to liquidate the fund was made to continue optimizing its product line to meet the changing demands of investors. BWOW was launched in November 2025, with an initial trading volume of approximately $3 million on its first day, but it has failed to reach that level again since then. According to SoSoValue data, the fund saw a net inflow of approximately $318,000 last month, reversing a slight outflow in July.

The spot Dogecoin ETF first debuted in the U.S. market in September 2025. Despite being highly anticipated at launch, it failed to attract investor interest. To date, the cumulative trading volume of the Dogecoin fund is approximately $300 million, which is significantly lower than that of alternative coin ETFs such as Hyperliquid ($2.1 billion), Zcash ($1.5 billion), and Chainlink ($680 million).