Bitwise to Liquidate Dogecoin ETF After Assets Stall Below $1 Million

Bitwise Asset Management is liquidating its Bitwise Dogecoin ETF, which trades on the NYSE under the ticker BWOW. According to multiple reports, the fund will close on October 22, roughly 10 months after it launched in November 2025. Coverage describes the decision as a response to weak asset growth: the fund began with a $2.5 million seed and, per publisher reporting, had shrunk to about $687,713 before the closure announcement. That level sits well below the $1 million figure that several outlets cited as the trigger for the wind-down.

In its own announcement, Bitwise said it "has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs." The notice set the final trading day, after which the fund will no longer trade and investors will receive proceeds in cash. Coverage notes that BWOW shareholders have until the closure date to sell their shares. Some outlets reported that the fund traded only about 400 shares in its final stretch, though the sources available for this summary do not fully confirm the details of that figure.

BeInCrypto first reported the planned liquidation in September, and the fund's shutdown has since drawn commentary on whether Dogecoin can sustain institutional-grade product demand. Some headlines framed the closure as a setback for DOGE's price outlook. Those framings are opinion rather than reported fact. A BeInCrypto report also noted record weekly activity across Dogecoin ETFs in the same period, which suggests the closure is specific to this product rather than a sign of broad investor retreat from the asset class. Bitwise's launch-era marketing cited Dogecoin as the seventh-largest crypto asset, but the sources available here do not provide current market data to confirm that position.