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

Bitwise Asset Management is pulling the plug on its Dogecoin exchange-traded fund less than a year after launch, with the product holding under $1 million in assets and generating barely $50,000 in monthly trading volume. The closure marks one of the most visible setbacks for a meme-coin ETF since regulators opened the door to a wave of altcoin products.

Hunter Horsley, the firm's chief executive, did not mince words about the outcome. Speaking at the Digital Asset Summit 2026 Asia on Wednesday, he described the fund's trajectory as "tragic" and said its failure exposes a fundamental gap between people who buy crypto through brokerage accounts and those who trade tokens directly on exchanges and apps.

"I like Dogecoin and hold it personally," Horsley said. "Historically it's a token without utility, but it has its own symbolism. As an ETF, however, it did not perform."

The Bitwise Dogecoin ETF, which trades under the ticker BWOW, will end trading on NYSE Arca on October 14. Shareholders are expected to receive cash distributions around October 22, according to the company. Data from SoSoValue showed the fund held roughly $725,870 in assets as of October 7, while September trading volume amounted to just $51,480.