Bitwise to Liquidate Dogecoin ETF BWOW Amid Weak Demand

Key Insights:

• Bitwise Dogecoin ETF (BWOW) failed to garner enough strength after a successful launch in November 2025.
• Dogecoin ETFs recorded about $318,000 in net inflows last month amid weak demand.
• Ali Martinez said a TD Sequential buy signal could indicate the end of DOGE price correction.

Dogecoin price traded near $0.084 on Sept. 11 as Bitwise prepared to close its Dogecoin ETF less than a year after launch. BWOW failed to build sustained investor demand after a relatively active debut, leaving the fund with only about $700,000 in assets. The closure comes as the wider Dogecoin ETF category continues to trail several newer altcoin investment products.

Bitwise announced the liquidation on Sept. 10 and said the move was intended to optimize its product lineup as investor needs evolve. BWOW’s last trading day on NYSE Arca is expected to be Oct. 14, while remaining shareholders are scheduled to receive cash after the fund completes liquidation. The development adds another sign that regulatory approval alone has not translated into strong demand for every crypto ETF category.

On Thursday, September 10, asset manager Bitwise announced its decision to liquidate the Dogecoin ETF BWOW, next month on October 14. Bitwise said that this decision to liquidate the fund is intended to “optimize its product range to meet evolving investor needs”.

The decision to shut down comes less than a year after Bitwise launched BWOW on November 26, 2025. The ETF currently has approximately $688,000 in assets under management, while its cumulative net flows stand at around -$1.23 million.

The fund recorded $3 million in opening-day trading volume following its launch in November. However, investor demand failed to sustain the initial momentum, leaving BWOW with under $700K.

“The last day of trading for the Fund on the NYSE Arca, Inc. (“NYSE”) is expected to be Wednesday, October 14, 2026. Shareholders may sell their shares in the secondary market until the close of trading on this date. Following the close of trading, the Fund will cease operations,” noted Bitwise.

The closure of Bitwise Dogecoin ETF highlights weak demand for the specific DOGE investment product. Besides, the crypto ETF approval rush from last year has also cooled down as of now.

The first Dogecoin ETF was launched in September 2025 by Rex Shares and Osprey Funds. Despite the initial hype surrounding spot Dogecoin funds, investor demand has remained limited.

According to SoSoValue, Dogecoin ETFs recorded approximately $318,000 in net inflows last month, reversing the modest outflows seen in July. The funds have generated around $300 million in cumulative trading volume.

It is significantly below other altcoin crypto ETFs, including Hyperliquid at $2.1 billion, Zcash at $1.5 billion and Chainlink at $680 million.

For a very long time period, the Dogecoin price has been consolidating in the $0.08-$0.1 region. In fact, it has moved out of the top-ten crypto list, losing ground to players like Tron (TRX), ZCash (ZEC), and Hyperliquid (HYPE).

Popular analyst Ali Martinez stated that the Dogecoin price could be preparing for a bounce ahead. The TD Sequential indicator has flashed a buy signal on Dogecoin’s ($DOGE) 4-hour chart. It suggests that the DOGE price correction could be nearing its end.

The signal has shown a positive track record recently, with the previous three buy signals followed by rebounds of 6.96%, 2.71%, and 11.25%. If the pattern repeats, Dogecoin could be positioned for another move higher, noted Martinez.

Another analyst, Lana Valentis, believes that Dogecoin could be preparing for a 3x rally ahead. She noted that DOGE price is trading within a bullish flag pattern on the daily timeframe, with a surge in buyer dominance and trading volume.

According to Valentis, the $0.089 level is critical for the setup. A confirmed close above this level could activate the pattern and potentially trigger the next major move higher.

Valentis also identified the potential price targets for Dogecoin as $0.155, $0.207, and $0.270.

The closure does not directly alter Dogecoin’s protocol or spot-market liquidity. DOJE and other Dogecoin investment products remain available, while DOGE continues trading on major cryptocurrency exchanges. BWOW holders also have a defined exit process before the Oct. 22 liquidation.

For DOGE price, the immediate focus remains on the $0.08 support region and resistance near $0.089-$0.10. A confirmed rebound would improve the short-term structure, while another breakdown could extend the current correction. ETF demand provides additional market context but remains much smaller than Dogecoin’s underlying spot market.

This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency and ETF markets remain highly volatile. Readers should conduct independent research before making investment decisions.

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