Bitwise Pulls Plug on Dogecoin ETF as DOGE Leads Crypto Market Losses

• The Dogecoin ETF from Bitwise is set to close after struggling to attract sustained demand
• The Bitwise Dogecoin fund closure comes as the Dogecoin price faces fresh selling pressure
• The Dogecoin sell-off pushed Doge crypto lower alongside broader weakness across the crypto market

Bitwise has decided to discontinue its Dogecoin ETF, BWOW, in a special new announcement. The firm has decided to liquidate its ETF as part of its efforts to optimize its crypto offerings. The Bitwise Dogecoin ETF was launched less than a year ago. The Dogecoin ETF is expected to have its final day on October 14. At the same time, Dogecoin price is facing sell-off pressure, becoming one of the weakest-performing major cryptocurrencies in the September 10 session.

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Bitwise Dogecoin ETF Struggles To Gain Traction

Bitwise Dogecoin ETF BWOW has been discontinued by the company. The firm made its latest announcement, adding how they will be liquidating this ETF after October 14, 2026. The Bitwise ETF was launched less than a year ago, recording around $3 million in daily trading volume during its launch week. However, its trading activity later fell significantly, pushing the firm to optimize its core crypto offerings. The company later shared:

“Bitwise Investment Advisers, LLC (“Bitwise”), the sponsor of the Bitwise Dogecoin ETF (the “Fund” or “BWO”), announced today its decision to liquidate and close the Fund, effective September 10, 2026. Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs.”

Per the recent estimates shared by the Block, the fund had become extremely small, reflecting low demand. Available fund-flow data shows cumulative net outflows of around $1.23 million.

This development does not necessarily mean that Dogecoin has been abandoned at large. What it suggests is that the companies are prioritizing investors’ demand, keeping it as one of their highest priority points.

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Dogecoin Prices Face Major Selloff

The ETF closure decision comes as Dogecoin prices face key struggles. Doge prices have fallen more than 5% on September 10, making it the weakest crypto performer within its peers. The Dogecoin selloff was not an isolated event. Apart from Doge crypto, BNB and XRP also noted further declines, falling about 4% and 3%, respectively.

The sell-off came amid broader macroeconomic pressure, with oil prices approaching $102 a barrel and higher Treasury yields weighing on risk assets.

What Does This Closure Mean?

BWOW’s closure is not a sign of Dogecoin losing its broader market momentum. Bitwise said the discontinuation was part of its effort to optimize its product range, rather than specifically citing a loss of confidence in Dogecoin. This alone cannot prove that Dogecoin has lost all its market following. However, BWOW’s limited traction shows that the approval of a crypto ETF does not automatically guarantee sustained investor demand for the product.

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