Bitwise to Close Dogecoin ETF Under a Year After Launch

Bitwise will terminate its Dogecoin ETF by mid-October, returning cash to investors shortly after.

Bitwise is shutting down its Dogecoin ETF less than a year after it debuted, marking a swift exit from this niche crypto product. According to CoinTelegraph, the fund, known as BWOW, held around $688,000 in net assets as of September 9.

Trading of the Dogecoin ETF is scheduled to end on October 14, with cash distributions expected to be completed by October 22, CoinTelegraph reported. The closure reflects challenges in sustaining investor interest in crypto ETFs tied to memecoins like Dogecoin.

For Japanese investors, this move underscores the volatility and evolving nature of crypto investment products, highlighting the importance of cautious portfolio management amid fluctuating market demand.

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執筆: Sama Kane