Bitwise to Liquidate Dogecoin ETF Amid Low Investor Interest
- The Bitwise Dogecoin ETF (BWOW) will cease trading on NYSE Arca on October 14, with liquidation set for the following week.
- Launched less than a year ago, BWOW attracted only about $700,000 in assets and recorded approximately $1.23 million in cumulative net outflows.
- Investor activity was minimal, with BWOW registering non-zero daily net flows on just three days since its inception.
- In contrast, the overall US Dogecoin ETF market has seen around $12 million in cumulative net inflows and manages about $11.83 million in total assets.
- Grayscale’s Dogecoin trust has accumulated roughly $1.63 million of net inflows and significantly outperformed Bitwise’s fund.
The closure of BWOW highlights the competitive landscape within the Dogecoin ETF sector, where established players have captured most investor capital despite modest overall interest in the category.
With BWOW managing only about $700,000 compared to Grayscale’s larger asset base, this move underscores the challenges faced by new entrants in attracting investment.(Source)
