Bitwise to Shut Down Dogecoin ETF Before First Birthday

Bitwise has announced plans to wind down its Dogecoin ETF. The fund will stop trading on October 14. Shareholders still holding positions by that date will receive cash payments for their holdings around October 22.

This move comes as a surprise to some, given the recent interest in spot crypto products. However, the fund struggled to gather enough assets to justify keeping it running in the current market environment.

Investors should prepare for the closure by reviewing their portfolios before the mid October cutoff. The firm will handle the liquidation process automatically, so shareholders do not need to take any action to receive their final cash distributions.