Bitwise to Close Dogecoin ETF BWOW Less Than a Year After Launch

Bitwise, a global digital-asset manager, will close its Dogecoin exchange-traded fund less than a year after launch.

Cointelegraph reported on September 11 that Bitwise plans to shut the Bitwise Dogecoin ETF, or BWOW, in October. The firm said the decision was aimed at optimizing its product lineup in response to changing investor demand.

BWOW launched on November 25 last year. As of September 9, the fund had about $688,000 in net assets.

The ETF is set to trade for the last time on NYSE Arca on October 14. Investors can sell their holdings before the market closes that day, after which trading will end.

Bitwise also plans to liquidate the Dogecoin held by the fund that day and stop issuing new ETF shares before the market opens on October 15.

Investors who do not sell their shares by the final trading day will receive cash based on the fund's net asset value, or NAV, as of October 21. Payments are scheduled to be made automatically through brokerages and other financial intermediaries on or around October 22.