Bitwise shuts Dogecoin ETF after 10 months

• Bitwise will close its spot Dogecoin ETF after about 10 months.
• The fund’s last NYSE trading day is expected on October 14.
• Dogecoin ETFs have attracted weak investor flows since launching last year.

Bitwise has announced plans to liquidate its spot Dogecoin ETF, about 10 months after launch.

The Bitwise Dogecoin ETF (BWOW) is expected to stop trading on the NYSE on October 14.

“Bitwise has determined to liquidate the Fund as it continues to optimise its product range to meet evolving investor needs,” the firm said.

The fund will distribute remaining assets to shareholders based on its net asset value on October 21.

BWOW reached about US$3 million in daily trading volume during its launch week but failed to match that level afterwards.

Spot Dogecoin ETFs recorded about US$318,000 in net inflows during August, reversing small outflows from July.

At the time of reporting, Dogecoin price was $0.08295.