Key facts
- Bitwise is closing the Bitwise Dogecoin ETF (BWOW).
- The fund held about $688,000 in net assets as of Sept. 9.
- Trading is expected to end on Oct. 14.
- Shareholders will receive cash payouts around Oct. 22.
Bitwise plans to liquidate its Dogecoin exchange-traded fund (ETF) in October, less than a year after its launch. The asset manager stated the closure of the Bitwise Dogecoin ETF (BWOW) is intended to "optimize its product range to meet evolving investor needs."
As of September 9, BWOW held approximately $688,000 in net assets. The fund's final day of trading on NYSE Arca is scheduled for October 14, allowing shareholders to sell their shares. Following this, Bitwise will convert the fund's Dogecoin holdings to cash on October 14 and halt the creation of new shares before the market opens on October 15. Remaining shareholders are expected to receive cash distributions based on the net asset value of their shares on October 21, with payments anticipated around October 22. These redemptions will be processed automatically through shareholders' brokers or financial intermediaries.