Key Takeaways
- • Bitwise will liquidate its Bitwise Dogecoin ETF (BWOW), with trading on NYSE Arca ending October 14, 2026, less than a year after launch.
- • The fund had roughly $700,000 to $722,000 in assets at the time of the announcement, and sources report net outflows of about $1.2 million.
- • Bitwise cited low liquidity and reduced market demand. One source reports no new share creations in the first half of 2026, after an initial daily trading peak of about $3 million.
- • Remaining shareholders will receive cash at net asset value, with payments expected around October 22, 2026. Holders who have not sold by October 14 will have their shares automatically redeemed.
Summary
Bitwise announced on September 10, 2026 that it will close and liquidate the Bitwise Dogecoin ETF (BWOW), a spot Dogecoin exchange-traded fund listed on NYSE Arca. Trading in the fund is scheduled to end on October 14, 2026, roughly ten months after its launch. According to reports based on the fund's announcement, BWOW attracted only about $700,000 in assets and recorded net outflows, with one source putting net outflows at approximately $1.2 million. Other reports put assets at roughly $722,000 shortly before the closure announcement.
Bitwise attributed the decision to low liquidity and reduced market demand for the product. Market commentary highlighted that the fund recorded no new share creations in the first half of 2026. Trading volume was heaviest early in the fund's life, with a daily peak of about $3 million, and declined substantially afterward. One headline described BWOW as the lowest-fee Dogecoin ETF among its peers, and that the closure came as rival products drew investor interest.
Shareholders have two options. Those who sell their BWOW shares on the open market before the October 14 cutoff can exit through trading. Those who continue to hold past that date will have their shares automatically redeemed for cash at the fund's net asset value. Liquidation proceeds are expected to be distributed around October 22, 2026.
Bitwise attributed the decision to low liquidity and reduced market demand for the product. Market commentary highlighted that the fund recorded no new share creations in the first half of 2026. Trading volume was heaviest early in the fund's life, with a daily peak of about $3 million, and declined substantially afterward. One headline described BWOW as the lowest-fee Dogecoin ETF among its peers, and that the closure came as rival products drew investor interest.
Shareholders have two options. Those who sell their BWOW shares on the open market before the October 14 cutoff can exit through trading. Those who continue to hold past that date will have their shares automatically redeemed for cash at the fund's net asset value. Liquidation proceeds are expected to be distributed around October 22, 2026.
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