Bitwise CEO Calls Dogecoin ETF’s Final Days…
By Damilola Esebame
AI summary of the source article
Bitwise will execute its final trades for its Dogecoin ETF (BWOW) on NYSE Arca on 14 October, distributing cash around 22 October based on its 21 October net asset value. The fund's assets under management dropped from an initial $2.5 million seed investment to roughly $725,870 due to redemptions and a 45% decline in NAV. Bitwise CEO Hunter Horsley cited a mismatch between retail crypto brokerage traders and institutional ETF allocators who showed little interest in memecoins. Despite BWOW's liquidation, US spot Dogecoin ETFs from Grayscale and 21Shares remain active.
Why it matters
The liquidation highlights the distinct gap between retail cryptocurrency traders and traditional ETF buyers, signaling limited investor demand for memecoin-focused exchange-traded products.
Key facts
- Bitwise's BWOW ETF will cease trading on NYSE Arca on 14 October, with cash distributions expected around 22 October.
- The fund's AUM fell from $2.5 million at launch to approximately $725,870 due to redemptions and a 45% drop in NAV.
- US spot Dogecoin ETFs managed by Grayscale and 21Shares continue to trade despite BWOW's closure.