Bitwise Dogecoin ETF BWOW Closes in Mid-October
Dogecoin (DOGE)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Bitwise is winding down its Dogecoin ETF, BWOW, less than a year after its November 26, 2025 launch. Trading for the fund will cease before the NYSE Arca opening bell on October 15, 2026, requiring investors to sell by the close on October 14. Bitwise will convert remaining Dogecoin holdings into U.S. dollars on October 14 and calculate a final net asset value on October 21.
Investors will receive liquidation proceeds in their brokerage accounts on October 22. The firm stated the move aims to optimize its product range to meet evolving investor needs, without citing specific volume or assets under management as reasons. BWOW saw roughly $3 million in volume during its first week but failed to sustain that pace.
Across the U.S. Dogecoin ETF market, net inflows totaled just $318,000 in August 2026. By contrast, Hyperliquid ETF products have accumulated $2.1 billion in cumulative trading volume since their debut. Combined Dogecoin ETF trading volume stands at approximately $300 million, representing share turnover rather than net capital inflows. Bitwise continues to oversee roughly $9 billion across more than 70 other investment products.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 12 September 2026. Not the outlet's figures.
Whalio data shows DOGE trading at $0.08430 with a 24-hour buy ratio of 50.1%, indicating a near-even split between buyers and sellers. The 1-hour buy ratio of 40.6% and 4-hour ratio of 48.9% suggest that short-term buying pressure is fading compared to the daily average. Volume delta reflects this shift, showing a -$278,503 outflow in the last hour and a -$84,168 outflow over four hours. However, the 24-hour volume delta remains positive at +$210,994, indicating net buying over the longer timeframe. CVD closed at -$610,011, while spot volume reached $64,922,150 with 762,928 trades in the last day. Net buying occurred for 13 of the last 24 hours, showing intermittent accumulation despite recent outflows.
The latest daily buy ratio of 37.6% sits at the 0th percentile of the last 322 days, against a median of 48.9% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for DOGE, averaged over the days leading up to the story.
The current 24-hour buy ratio of 50.1% is slightly higher than the 7-day average of 49.8%, showing a marginal increase in buying interest. However, the 24-hour spot volume of $64,922,150 is only 0.78 times the weekly average, indicating significantly lower trading activity. This volume contraction contrasts with the weekly volume delta of +$1,389,391, which shows net buying over the past eight days. Only two of the last seven days saw net buying, suggesting a generally weak trend. The current day represents an unusual drop in volume compared to the weekly norm, despite the slight uptick in the buy ratio.