Bitwise to Close Dogecoin ETF as Rivals Attract Most Capital

Bitwise is closing BWOW, its Dogecoin ETF, after competing spot products attracted substantially more capital, according to CryptoSlate. BWOW held approximately $687,730 as of Sept. 10. By comparison, three spot Dogecoin products tracked by SoSoValue held a combined $11.83 million on the same date. The figures indicate that Bitwise’s fund accounted for only a small portion of the capital held across the products cited. The move concerns an exchange-traded fund linked to Dogecoin and does not provide information on changes to the cryptocurrency itself. CryptoSlate identified BWOW as the lowest-fee Dogecoin ETF in its report, while noting that rivals captured nearly all of the capital among the products reviewed.