SEC files Form 25 for Bitwise Dogecoin ETF as wind-down nears its end

The SEC has filed a Form 25 for the Bitwise Dogecoin ETF, referenced under DOGE. That is the paperwork tied to pulling a fund off an exchange listing, and it is the formal step that follows Bitwise’s decision to shut the product down. From launch to liquidation in under a year Bitwise Investment Advisers launched its spot Dogecoin ETF, which trades under the ticker BWOW, on November 26, 2025. It started life with $2.5 million in seed funding. Early signs looked respectable. Trading volume reached approximately $3 million during the fund’s first week, which suggested some curiosity from the market. That curiosity did not last. Assets under management fell to approximately $688,000 by early September 2026, and stood at $725,870 by October 7, 2026. Investors did not simply ignore it. They actively pulled cash out, with total net outflows surpassing $1.3 million since launch. Activity dried up too. Trading volume for BWOW in September 2026 came to $51,480, a fraction of that busy opening week. The fund charged an expense ratio of 0.34%. On a fund this small, that fee generates very little revenue for the issuer, which helps explain why keeping it alive stopped making sense. The timelin...