Bitwise is pulling the plug on their spot Dogecoin ETF rn, kinda like 10 months after it first dropped, all to tweak their lineup and match what investors actually want these days fr 🐶💀.
The fund BWOW which trades on NYSE Arca will keep going until October 14 as its last day to trade 📉.
Investor Interest Fading Fast 😭
Per the official press release you can dump your shares on the secondary market right up till that final day then BWOW just shuts down for good. Any leftover holders get the net asset value of their shares in cash by October 22 and Bitwise says no need to do a thing during the whole process 🚀.
They even worked with NYSE to handle the delisting and liquidation smooth 🖤.
Back in November last year Bitwise CEO Hunter Horsley dropped this line: “DOGE is simply a 12-year-old coin based on a picture of a cute dog, people doing good, and the common ideal in crypto that people should have the freedom to do as they choose. And, against the odds, it has kept its relevance – and its value – longer than just about anything else in crypto.”
This move comes as the whole spot Dogecoin ETF scene struggles hard to pull steady cash flows. The first DOGE ETF hit in September and got all the hype but these products have totally cooled off since then 👀.
Numbers from SoSoValue show Dogecoin ETFs pulled in about $318,000 in net inflows last month flipping from tiny outflows in July. September turned way weaker tho with over $343,000 already flowing out. Overall lifetime net outflow sits at $1.23 million 💎.
More Upward Vibes Incoming 🔥
The past month stayed pretty steady for the OG meme coin lol it climbed nearly 20% while the bigger crypto market pumped. After hitting a recent peak of $0.09 it dipped back around $0.084 tho.
Ali Martinez sees DOGE set for another pop. The analyst spotted a buy signal on the TD Sequential from the four-hour chart and noted it has nailed rebounds lately with the past three signals giving 6.96% then 2.71% and 11.25% gains.
Just another echo from the void by iconofsin.eth 💖
