Bitwise to Liquidate Dogecoin ETF After Less Than a Year
- Bitwise is closing its Dogecoin ETF, known as BWOW, less than a year after its November launch.
- BWOW held approximately $722,000 in net assets as of September.
- The final trading day for BWOW on NYSE Arca is expected to be October 14.
- Remaining shareholders will receive cash based on their shares’ value as of October 21.
- Bitwise cited efforts to “optimize its product range” as the reason for the closure.
Crypto asset manager Bitwise is winding down its Dogecoin ETF, BWOW, which was launched in November last year to offer investors exposure to Dogecoin without direct ownership. The fund currently holds about $688,000 worth of DOGE and will cease trading by mid-October.
Despite initially holding over $722,000 in assets, Bitwise decided to liquidate BWOW as part of a strategy to better align with investor needs and market conditions. (Source)
