Altcoins News
By Sydney TheCMO
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Hunter Horsley's Pitch vs. the Reality. When BWOW launched, Bitwise CEO Hunter Horsley made the case pretty clearly.
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Grayscale's GDOG Fared Better — But Not by Much. Grayscale launched its own Dogecoin ETF, ticker GDOG, just days before BWOW hit the market.
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What the Closure Probably Means for Meme Coin ETFs. There's a real pattern forming here. Crypto ETFs built around Bitcoin attracted enormous capital…
4 / 15
Bitwise is pulling the plug on its Dogecoin ETF. The fund, which traded on NYSE Arca under the ticker BWOW, gathered just $722,000 in assets across its entire run — and now it's…
5 / 15
That's a pretty rough outcome for a product that launched with some genuine fanfare. Bitwise filed to register the Dogecoin ETF entity in Delaware back in January 2025, spent…
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When BWOW launched, Bitwise CEO Hunter Horsley made the case pretty clearly. He said millions of Dogecoin holders wanted the exposure benefits that come with an ETF wrapper — the…
7 / 15
Turns out, not exactly. The fund pulled in less than three-quarters of a million dollars total.
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The gap between Dogecoin's cultural footprint and BWOW's asset base is kind of stunning when you put it plainly.
9 / 15
Grayscale launched its own Dogecoin ETF, ticker GDOG, just days before BWOW hit the market. And GDOG did better — it's sitting at roughly $8.
10 / 15
See also: Grayscale Seeks NYSE Arca Listing for Litecoin Trust LTCN in SEC Filing
11 / 15
So both funds exist in a kind of awkward middle ground — too small to be meaningful financial products, too big to just quietly disappear. GDOG keeps going. BWOW doesn't.
12 / 15
The liquidation itself involves selling 8.2 million DOGE, valued at around $688,000 at the time Bitwise made the announcement.
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There's a real pattern forming here. Crypto ETFs built around Bitcoin attracted enormous capital once regulators cleared the way — billions poured in fast.
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That's probably the clearest signal yet that meme coin enthusiasm doesn't translate cleanly into structured product demand.
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Bitwise isn't exiting crypto broadly. The firm has other products and will presumably keep filing and launching things it thinks can scale.
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