Cryptocurrency asset manager Bitwise announced plans to close and liquidate the Bitwise Dogecoin ETF (BWOW). The firm notified NYSE Arca that shares will cease trading on October 14, 2026. The fund, which launched in November 2025, struggled to build long-term volume relative to larger crypto exchange-traded products. Bitwise will convert remaining assets into cash, automatically distributing net asset proceeds to shareholders on October 22.
Asset manager Bitwise Investment Advisers has formally decided to liquidate and shut down its spot Dogecoin exchange-traded fund, the Bitwise Dogecoin ETF (BWOW).
The manager notified exchange officials at NYSE Arca on September 10, 2026, confirming plans to voluntarily delist the product and withdraw its public registration. Bitwise cited ongoing efforts to optimize its overall fund product suite and better align with changing institutional demand as the key reason for ending the fund.
The liquidation process follows a clear multi-stage schedule outlined by the trust sponsor:
Final Trading Session: The last day for secondary market trading on NYSE Arca will be Wednesday, October 14, 2026.
Creation and Redemption Halts: Creation orders for new shares will be officially suspended prior to the market opening on Thursday, October 15, 2026.
Asset Portfolio Conversion: Starting October 15, the trust will no longer track its underlying index objective. Instead, managers will liquidate the fund’s Dogecoin holdings into U.S. dollars.
Distribution Timeline: Remaining investors will receive cash redemptions calculated using the fund’s net asset value as of October 21. Capital distributions are scheduled for payout around October 22, 2026.
Shareholders retain the option to sell their fund holdings on the open exchange through the final trading date. Investors who continue holding shares through the liquidation date will automatically receive their pro-rata cash proceeds without needing to take additional administrative steps.
The Bitwise Dogecoin ETF launched in late November 2025, expanding access to memecoin-focused investment vehicles for traditional brokerage accounts. However, investor demand remained relatively subdued over its 10-month operational lifespan.
While the fund recorded an initial day trading volume near $3 million, daily trading liquidity fell steadily over subsequent quarters. Total assets under management hovered under $1 million by September 2026. Across the broader market, single-asset altcoin funds have faced varying adoption levels, with capital inflows concentrating primarily around high-liquidity assets like Bitcoin and Ethereum.
The shutdown of the Bitwise Dogecoin ETF reflects ongoing product consolidation among institutional asset managers in the digital asset industry. Bitwise, which manages over $9 billion across more than 70 investment products, confirmed it will continue supporting its larger cryptocurrency trusts and diversified multi-token ETF strategies.
