Closure of Bitwise Dogecoin ETF after 10 months, raising $687,713

The Bitwise Dogecoin ETF (BWOW) has been closed just ten months after its debut, having raised only $687,713 by September 9. The decision to liquidate the fund and return cash to investors has sparked a discussion about the rationale behind creating ETFs for memecoins. Analysts note a significant difference in interest between memecoin funds and those dedicated to more serious blockchain projects. Three major U.S. Dogecoin funds have collectively gathered just over $12 million in ten months, which is a low figure compared to XRP-based funds that attracted $12,290,000 in a single day on September 9. Experts point out that the availability of Dogecoin on the stock market has not resolved investors' issues, as this token has exhibited high liquidity for years. For institutions to invest in regulated products, they need solid economic fundamentals, and Dogecoin funds have recorded net outflows in 83 percent of cases over 199 trading days. In contrast, XRP and Solana funds are experiencing significant interest, attracting $1.7 billion and $1.36 billion, respectively, since their debut.

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