Crypto: BWOW Dogecoin ETF Disappears After a Failed Launch

Bitwise will close BWOW, its Dogecoin ETF launched at the end of November 2025. The fund held only about 688,000 dollars in net assets as of September 9, according to data cited by Cointelegraph. Its last session on the NYSE Arca is scheduled for October 14, then the remaining investors will be reimbursed in cash around October 22. Less than eleven months were therefore enough to end this crypto experiment. 

In brief

Crypto: BWOW never really found its audience

Bitwise launched BWOW on November 26, 2025 with a simple idea: to allow investors to get direct exposure to Dogecoin from a traditional brokerage account. At that time, the NYSE had just given its green light to Bitwise’s Dogecoin ETF.

The product charged 0.34% per year. Bitwise had even waived these fees during the first month for the first 500 million dollars of assets. The manager then presented Dogecoin as a “crypto movement icon,” despite its origins as a memecoin and its alleged lack of fundamental utility.