Bitwise is winding down its Dogecoin exchange-traded fund, BWOW, less than a year after launch, closing a product that held about $722,000 in assets this month.
The crypto asset manager said Thursday that BWOW is being liquidated, with October 14, 2026 expected to be its final trading day on NYSE Arca.
"On Thursday, October 22, 2026, the remaining shareholders will receive the net asset value of their shares as of October 21, 2026, distributed in cash," Bitwise said. "Shareholders do not need to take any action during this process."
Bitwise said the decision was part of efforts to "optimize its product range to meet evolving investor needs."
Final trading date and liquidation terms
An exchange-traded fund, or ETF, allows investors to buy and sell shares on an exchange to gain exposure to assets such as stocks, bonds, or cryptocurrencies without directly owning them.
According to the fund’s website, BWOW currently holds about 8.2 million DOGE worth roughly $688,000. Bitwise did not point to that as the reason for the closure.
Fund launched in November 2025
BWOW began trading on November 26, 2025, giving investors Dogecoin exposure through brokerage accounts without requiring them to buy and store the cryptocurrency themselves. Its planned liquidation comes just under 11 months later.
Bitwise started pursuing the fund in early 2025. In January that year, it registered a Dogecoin ETF entity in Delaware. In November, the firm removed a delaying amendment from its Securities and Exchange Commission registration statement, allowing the filing to become effective after 20 days unless the agency stepped in.
Part of a broader wave of crypto fund launches
The Dogecoin ETF arrived during a broader wave of crypto fund launches as issuers moved beyond Bitcoin and Ethereum into products tied to other tokens.
Other firms have also rolled out Dogecoin-related products. Grayscale introduced its Dogecoin and XRP ETFs days earlier.
What Bitwise said at launch
When BWOW launched in November 2025, Bitwise CEO Hunter Horsley pointed to Dogecoin’s staying power and to demand from holders for an exchange-traded product.
"Bitwise is launching BWOW because many DOGE holders, a community that numbers in the millions, want the benefit that comes from getting exposure to crypto in an ETP format, and we believe they should have it," Horsley said at the time.