Dogecoin ETF Failure? Bitwise CEO Says DOGE Users Reject ETFs
The Dogecoin ETF has reached an unusual end. Bitwise will stop trading its spot fund, BWOW, on the NYSE after October 14, and Bitwise CEO Hunter Horsley now calls the result tragic.
This Crypto News Today report checks the fund's numbers, what Horsley actually said, and what the Dogecoin ETF outcome proves.
Key Takeaways
BWOW held about $725,870 in assets as of October 7, with $51,480 in September volume, and its last NYSE trading day is expected on October 14.
Horsley links the failure to a gap between ETF buyers and crypto brokerage app users and says that may change over time.
Spot Dogecoin funds have drawn about $300 million in total trading volume, well below Hyperliquid funds at $2.1 billion and Zcash funds at $1.5 billion.
Why Did the Bitwise CEO Call the Dogecoin ETF a Failure?
Source: The Block interview, reported October 9, 2026
Hunter Horsley made the comments on DOGE ETF users in an interview with The Block. He said the failure of BWOW shows a gap between people who buy ETFs and people who use crypto brokerage apps.
In his view, ETF users did not want to put money into Dogecoin, but "that may change over time."
He also said he owns Dogecoin and respects what it stands for. He rejected the idea that Bitwise targeted the wrong audience and described crypto ETFs as a conduit.
How Did the Bitwise Dogecoin ETF Perform?
BWOW held about $725,870 in assets on October 7. Its monthly volume in September was $51,480. Launch week was far stronger, with daily volume near $3 million, and the fund has not come close since.
Across all spot Dogecoin funds, net inflows were about $318,000 in August, which reversed small outflows from July. Total trading volume for these funds is roughly $300 million. Hyperliquid funds recorded $2.1 billion and Zcash funds $1.5 billion.
When Does the Bitwise Dogecoin ETF Stop Trading?
Bitwise announced the liquidation on September 10, about 10 months after the November 2025 launch. Shareholders can sell on the secondary market until the close on October 14.
On October 22, remaining holders receive cash equal to net asset value as of October 21. No action is needed. Bitwise said it was optimizing its product range to meet evolving investor needs.
The last trading day and the cash payout are separate dates, which is the key Dogecoin ETF latest news October 2026.
Why Do Dogecoin Users May Reject ETFs, and Does the Data Prove It?
Not yet. Horsley's point concerns two audiences, not every Dogecoin holder. The sources reviewed contain no survey or holder data showing that DOGE users reject ETFs.
Thin demand for one fund is one result, and Horsley himself left room for change. This Dogecoin News update treats the claim as an executive view, not a confirmed trend.
What Does the Dogecoin ETF Criticism Mean for DOGE?
The DOGE Price was about $0.084 on September 10, with a market cap near $13 billion. That figure is older than the Horsley interview, so it is not a current price. The same report says Dogecoin fell out of the top 10 cryptocurrencies over the past year as HYPE and ZEC rose.
Horsley contrasted BWOW with the Bitwise Solana Staking ETF, which he said holds $1.3 billion in net assets. He called that a bet on Solana. The comparison shows that crypto ETF demand varies by asset.
Conclusion
The closing of BWOW ends one test of Dogecoin ETF demand, not the wider debate. The DOGE ETF adoption outlook stays open: whether brokerage app users ever move into ETFs and whether other Dogecoin funds fare better remain a question for readers following Crypto News.
YMYL Disclaimer
This article is for informational purposes only and is not financial or investment advice. Cryptocurrency and ETF investments carry a significant risk of loss. Readers should verify details with official sources and consult a qualified professional before making financial decisions.
