Bitwise's Dogecoin ETF is closing with under $1 million. Its CEO says it "went nowhere"

Hunter Horsley, the chief executive of Bitwise, has a blunt verdict on his firm's Dogecoin fund: it "went nowhere" as an ETF. He was speaking to The Block at the Digital Asset Summit 2026 Asia, in an interview published on Thursday.

The Bitwise Dogecoin ETF, ticker BWOW, launched in November 2025, The Block reported. Bitwise announced on September 10 that it would liquidate the fund. Its last day of trading on NYSE Arca is October 14, and remaining shareholders will be paid in cash on October 22, based on the fund's net asset value on October 21, according to the company's release.

The fund never gathered much money. It had about $725,870 in assets as of October 7 and traded $51,480 in the whole of September, according to SoSoValue data cited by The Block.

Horsley said he owns Dogecoin and likes it, while describing it as historically useless. His reading of the failure is that people who buy ETFs and people who use crypto trading apps are different crowds, and the ETF buyers did not want Dogecoin. That may change over time, he said.

He set it against the Bitwise Solana Staking ETF, which has $1.3 billion in net assets. Buyers of that fund see tokenization, stablecoins and on-chain vaults as growth areas that benefit Solana, he said.

Bitwise is still adding products. It launched a fund tracking the NEAR token last week, and filed for two AI-themed ETFs in August and September, The Block reported.