Bitwise shuts down Dogecoin ETF just 10 months after launch
Crypto asset manager Bitwise has decided to liquidate its spot Dogecoin ETF roughly 10 months after the fund was launched. The final day of trading for the Bitwise Dogecoin ETF on the NYSE will be October 14.
According to the project’s website, investors will be able to sell their shares on the exchange until the close of trading on October 14. Remaining shareholders will receive cash payments on October 22 based on the fund’s net asset value as of October 21. No additional action will be required from them.
The company said the decision was part of an effort to optimize its product lineup in response to changing investor needs.
Demand for Dogecoin ETFs remains weak
The first Dogecoin exchange-traded funds launched in the U.S. in September 2025. Despite strong interest ahead of their debut, the products failed to attract significant amounts of capital.
According to SoSoValue, total net inflows into all spot Dogecoin ETFs amounted to just around $318,000 in August. A month earlier, the funds recorded a small net outflow.
Total trading volume for Dogecoin ETFs since launch has reached roughly $300 million. By comparison, similar funds tracking Hyperliquid have generated about $2.1 billion in trading volume, Zcash funds around $1.5 billion, and Chainlink ETFs about $680 million.
Bitwise’s BWOW fund itself peaked at around $3 million in daily trading volume during its first week on the market.
Dogecoin is currently trading at around $0.084, giving it a market capitalization of roughly $13 billion. Over the past year, the cryptocurrency has dropped out of the top 10 by market value amid the rise of HYPE and ZEC.
Growth driven by hype, not fundamentals
Dogecoin lacks the kind of fundamental foundation typically used to justify the value of major crypto projects. The coin was created as a joke in 2013, does not offer unique technology or a developed application ecosystem, and has no hard cap on its total supply. Even Bitwise CEO Hunter Horsley has acknowledged that DOGE does not try to prove that it has fundamental value or practical utility.
For years, Elon Musk was one of the main drivers of interest in Dogecoin. His posts on X, jokes and public comments about DOGE repeatedly triggered sharp price moves. This was especially evident in 2021, when Musk’s support helped turn the coin from a niche memecoin into one of the world’s largest crypto assets. As attention from both Musk and the broader market faded, Dogecoin found it much harder to maintain its previous growth momentum.
Earlier, Dogecoin unexpectedly fell by 8%.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
