Image Credit: ownthedoge.com
Key Takeaways
- Bitwise will liquidate its spot Dogecoin ETF, with Oct. 14 set as the expected final trading day on NYSE Arca.
- Remaining shareholders will receive cash based on the fund’s Oct. 21 net asset value, distributed Oct. 22.
- The fund generated about $3 million in trading volume at launch in November 2025 and never came close to that level again.
Bitwise has decided to liquidate its spot Dogecoin exchange-traded fund, which has been trading on the NYSE for approximately 10 months. The announcement was made on Thursday, with the final trading day set for October 14.
This decision comes as Bitwise aims to optimize its product offerings to better meet the evolving needs of investors. The fund, which launched amid high expectations, struggled to maintain its initial trading volume, highlighting the challenges faced in the competitive cryptocurrency market.
Final Trading Day Set for October 14
According to a filing that was made with the Securities and Exchange Commission (SEC), the final day of trading for the fund is anticipated to take place on October 14th. Up until that date, shareholders have the ability to sell their shares on the secondary market.
The net asset value of the fund as of October 21 will be distributed to the remaining shareholders on October 22 in the form of cash. Shareholders, according to Bitwise, are not required to take any action during the process.
“Bitwise has determined to liquidate the Fund as it continues to optimize its product range to meet evolving investor needs.”
Fund Never Matched Its Launch-Week Volume
Following the debut of the first Dogecoin exchange-traded fund (ETF) in the United States in September 2025, the Dogecoin ETF was introduced in November 2025, amidst intense anticipation for spot Dogecoin products. Trading volume reached its highest point of approximately $3 million during its first week, and it did not return to that level after that.
Based on SoSoValue data, spot Dogecoin funds collectively recorded last month in net inflows about $318,000, reversing minor outflows from July. Well behind comparable altcoins funds tracking Hyperliquid ($2.1 billion), Zcash ($1.5 billion), and Chainlink ($680 million), cumulative trading volume across all Dogecoin ETFs sits at roughly $300 million.
Bitwise CEO Hunter Horsley defended Dogecoin’s staying power when the fund launched last year, saying the token never claimed to offer financial utility but had outlasted expectations. He said at the time:
“DOGE began as a joke and came to become an icon of the crypto movement [ . . .] against the odds, it has kept its relevance — and its value — longer than just about anything else in crypto.”
Dogecoin currently trades around $0.084, giving it a market capitalization near $13 billion. The token has fallen out of the top 10 cryptocurrencies by market cap over the past year as HYPE and ZEC rose.
