Dogecoin ETF demand is sluggish, Bitwise announces the closure of the BWOW fund
According to data from CoinDesk, the three U.S. Dogecoin ETFs have seen a total net inflow of only about $12 million in the past 10 months, while the XRP fund attracted $12.29 million in a single day on September 9. Out of the 199 trading days covered in the statistics, the Dogecoin fund had zero net flow for 166 days, accounting for over 83%. During the period from August 13 to September 10, it also recorded a net outflow of about $108,000.In contrast, since its launch in November 2025, the XRP fund has accumulated a net inflow of $1.7 billion, while the SOL fund has raised $1.36 billion since its launch in October 2025, both exceeding the total amount of the Dogecoin fund by more than 100 times. During the 20 trading days from August 13 to September 10, the XRP fund added $190.5 million, and the SOL fund saw inflows of $199 million, while the Dogecoin fund recorded net outflows. Even though the price of Dogecoin rose over 30% in the last two weeks of August, it did not significantly change this situation.Weak demand has led to a contraction in the product line. Cryptocurrency asset management company Bitwise announced it would close its Dogecoin ETF BWOW, which has been in operation for less than a year since its launch in November 2025, and as of September 9, had an asset size of only $687,700. Trading is expected to stop on October 14, and remaining shareholders will receive cash on October 22. A Bitwise spokesperson stated that the company decided to liquidate the fund to continue optimizing its product line to meet the changing needs of investors.