Bitwise will shut down its Dogecoin exchange-traded fund, ending trading of BWOW on NYSE Arca on Oct. 14 as the firm reviews its ETF lineup and investor demand.
The company announced the decision Sept. 10. Shareholders can sell BWOW shares until trading closes on Oct. 14, after which Bitwise will begin the liquidation process.
After the final trading session, Bitwise will wind down the ETF and stop creating new shares before Oct. 15.
Shareholders who still hold BWOW will receive cash based on the fund’s net asset value as of Oct. 21, with payments scheduled for Oct. 22. Investors do not need to take action during the liquidation process.
Bitwise is working with NYSE Arca on the ETF’s delisting and liquidation, according to the company.
The closure comes as Bitwise reviews its ETF lineup this year. The firm has also begun winding down several option-income funds tied to individual stocks and Ethereum.
Demand for single-asset crypto ETFs has been uneven, with Bitcoin and Ethereum products attracting larger asset bases while smaller-token funds face a more competitive market.
Other Dogecoin ETF products will remain available after BWOW stops trading.
