Key Takeaways
- • Bitwise Investment Advisers, LLC plans to close and liquidate the Bitwise Dogecoin ETF (BWOW) on October 22, 2026, less than a year after its November 25, 2025 inception.
- • Shareholders who do not sell BWOW shares by October 14, 2026 will be automatically redeemed for cash based on NAV on October 21, 2026, with proceeds expected through brokers on or around October 22.
- • BWOW held 8,192,893.98 DOGE as of October 8, 2026, with NAV of $13.68 and market price of $13.74 as of October 7, 2026.
- • Trailing performance was weak, with NAV returning -38.38% and market price returning -38.40% in the period reported as of September 29, 2026.
- • Per press coverage cited in the publisher context, assets fell below $1 million and cumulative net inflows were reported at -$1.23 million, citing prolonged low liquidity.
Summary
Bitwise Investment Advisers, LLC, sponsor of the Bitwise Dogecoin ETF (BWOW), plans to close and liquidate the fund on October 22, 2026, according to the fund's announcement. Shareholders who do not sell their shares by October 14, 2026 will have them automatically redeemed for cash at the net asset value calculated on October 21, 2026. Redemption proceeds are expected to be distributed through brokers or other financial intermediaries on or around October 22.
The fund launched on November 25, 2025, and was therefore liquidated less than eleven months after inception. As of October 8, 2026, BWOW held 8,192,893.98 DOGE, with Coinbase Custody Trust Co. serving as digital asset custodian and Bank of New York Mellon as administrator and trust custodian. As of October 7, 2026, NAV stood at $13.68 and market price at $13.74, with a 30-day median bid-ask spread of 0.64%. Performance data as of September 29, 2026 showed NAV returning -38.38% and market price returning -38.40% since inception-period reporting, and the fund's own materials note that past performance is no guarantee of future results.
Publisher-context coverage attributes the decision to a continuing effort to optimize the product range to meet evolving investor needs, and reports that assets had fallen below $1 million. Coverage also cites prolonged low liquidity and cumulative net inflows of -$1.23 million, per SoSoValue data referenced in that reporting. Bitwise CEO Hunter Horsley reportedly described the failure as 'tragic.' The fund is not registered under the Investment Company Act of 1940, and the sponsor's materials caution that an investment in BWOW is not a direct investment in the Dogecoin token.
The fund launched on November 25, 2025, and was therefore liquidated less than eleven months after inception. As of October 8, 2026, BWOW held 8,192,893.98 DOGE, with Coinbase Custody Trust Co. serving as digital asset custodian and Bank of New York Mellon as administrator and trust custodian. As of October 7, 2026, NAV stood at $13.68 and market price at $13.74, with a 30-day median bid-ask spread of 0.64%. Performance data as of September 29, 2026 showed NAV returning -38.38% and market price returning -38.40% since inception-period reporting, and the fund's own materials note that past performance is no guarantee of future results.
Publisher-context coverage attributes the decision to a continuing effort to optimize the product range to meet evolving investor needs, and reports that assets had fallen below $1 million. Coverage also cites prolonged low liquidity and cumulative net inflows of -$1.23 million, per SoSoValue data referenced in that reporting. Bitwise CEO Hunter Horsley reportedly described the failure as 'tragic.' The fund is not registered under the Investment Company Act of 1940, and the sponsor's materials caution that an investment in BWOW is not a direct investment in the Dogecoin token.
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