Bitwise to Close Dogecoin ETF Before Its First Anniversary

Bitwise has announced its decision to close the Dogecoin ETF, BWOW, less than a year after its launch. This move by Bitwise to close Dogecoin ETF will see the fund, which held approximately $722,000 in net assets as of September 8, cease trading on NYSE Arca on October 14.

Remaining shareholders will receive cash based on their shares' net asset value as of October 21, 2026, with distributions expected by October 22, 2026. Shareholders are not required to take any action.

Bitwise stated that the decision to liquidate BWOW is part of an effort to optimize its product range to meet evolving investor needs. The fund currently holds about 8.2 million DOGE, valued at approximately $688,000. Bitwise did not specify this figure as the reason for the closure.

The Bitwise to Close Dogecoin ETF comes after the fund began trading on November 26, 2025, providing investors with exposure to Dogecoin through brokerage accounts without direct ownership or storage.

Bitwise initiated the process for this fund in early 2025, registering a Dogecoin ETF entity in Delaware. In November, the firm removed a delaying amendment from its SEC registration statement, allowing the filing to become effective after 20 days, provided the agency did not intervene.

The launch of the Dogecoin ETF was part of a broader trend of crypto fund introductions, with issuers expanding beyond Bitcoin and Ethereum to include products tracking other tokens. Other firms, including Grayscale, also launched Dogecoin products around the same period.

At the time of BWOW's launch in November 2025, Bitwise CEO Hunter Horsley noted Dogecoin's sustained presence and the demand from its holders for an exchange-traded product. He indicated that Bitwise launched BWOW to provide millions of DOGE holders with the benefits of crypto exposure in an ETP format.