Event Summary
US asset manager Bitwise has announced the closure of its Dogecoin exchange-traded fund BWOW launched in November 2025. The fund recorded approximately USD 3 million in single-day trading volume at launch and was seen as one of the landmark events for memecoins entering traditional financial channels. However, BWOW’s trading activity never sustained itself, market attention gradually declined, and the asset manager ultimately decided to initiate the fund liquidation and delisting process.
Bitwise stated that the closure of the fund is based on a comprehensive assessment of current market demand, operating costs and long-term sustainability, and does not represent an overall repositioning of the company on memecoins or the broader crypto asset business. Multiple market observers noted that this case suggests that demand for memecoin ETF products is highly sensitive to crypto cycles and community heat, and that the long-term performance of related products still carries considerable uncertainty.
Editor: GoodInfo Global News Desk