Bitwise to put down Dogecoin ETF less than a year after launch
Summary
Bitwise will shut down its Dogecoin ETF, BWOW, in October, less than a year after launch, citing a need to optimize its product lineup for changing investor demand. The fund held about $688,000 in net assets as of Sept. 9. Its last trading day on NYSE Arca is expected to be Oct. 14, after which Bitwise will stop creating new shares and convert the Dogecoin holdings to cash. Shareholders will receive cash payouts based on the fund’s net asset value on Oct. 21, with payments expected around Oct. 22 through brokers or other intermediaries.
