Bitwise is liquidating its Dogecoin ETF ($BWOW), a product that has been on the market for less than a year. Trading of this fund will cease on October 14th, and remaining holders will complete cash redemptions within the following week.
This exit occurred during the ongoing adjustments to the ETF cryptocurrency product. According to data cited by Coinpedia, 10 ETF tokens have been liquidated this year, with the related asset value declining by about 40% to $9 billion from their issuance level.
Product line contraction
Bitwise indicates that closing this fund is aimed at optimizing the product portfolio to better meet the needs of investors. The company did not disclose more details in the text.
DOGE Price decline
The report also mentioned that the trading price of Dogecoin is 0.08343 US dollars, with a 2.5% decline in the past 24 hours and a 4.2% decline in the past week. The article suggests that this reflects a cooling of market demand for packaging of the smaller-cap altcoin ETF.
