Bitwise to Liquidate Dogecoin ETF Less Than a Year After Launch

Bitwise plans to wind down its Dogecoin exchangetraded fund in October, marking the end of the product less than a year after it began trading. The fund, listed under the ticker BWOW, had about $688,000 in net assets as of Sept. 9. According to the company, the ETF’s last trading day on NYSE Arca is expected to be Oct. 14. Bitwise said it will convert the fund’s Dogecoin holdings to cash on that date and stop creating new shares the next day. Shareholders are expected to receive cash payouts based on the fund’s net asset value on Oct. 21, with payments likely arriving around Oct. 22. Bitwise said the closure is part of its effort to adjust its product lineup to changing investor demand.