Bitwise to Shut Down Dogecoin ETF After Weak Investor Demand

Crypto asset manager Bitwise announced it will liquidate its spot Dogecoin exchange-traded fund, roughly ten months after the product launched on the New York Stock Exchange. Trading is expected to end on October 14, with remaining shareholders receiving cash payouts based on the fund’s net asset value shortly after.

Bitwise said the decision reflects efforts to adjust its product lineup based on investor demand. The company noted shareholders do not need to take any action during the liquidation process.

Dogecoin ETFs Struggled to Attract Investor Interest

The first Dogecoin ETF debuted in September 2025 amid significant anticipation, but trading volumes never matched expectations. The fund generated around $3 million in daily volume during its opening week, a figure it failed to approach again. Total trading volume across Dogecoin ETFs has reached approximately $300 million, far behind other altcoin funds tied to Hyperliquid, Zcash, and Chainlink.

Despite modest net inflows last month, overall enthusiasm for the product remained limited. Dogecoin itself currently trades near $0.084, with a market capitalization of about $13 billion, having recently dropped out of the top ten cryptocurrencies by market value.