Bitwise Asset Management has unveiled the Bitwise Dogecoin ETF as investor appetite for altcoin exposure continues to increase.
Key Takeaways:
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Bitwise is launching the Dogecoin ETF (BWOW) to meet growing demand for altcoin investment products.
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The fund carries high risk and fewer investor protections than traditional ETFs.
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Dogecoin’s strong community and lasting market presence continue to drive institutional interest.
The fund, announced Tuesday, will trade on the New York Stock Exchange under the ticker BWOW beginning November 26, 2025.
Bitwise CEO Hunter Horsley said the company is responding to a real and persistent demand within one of crypto’s most unusual communities.
“DOGE began as a joke and became an icon of the crypto movement,” he said. “It doesn’t claim to transform capital markets or offer deep fundamentals. It’s a 12-year-old coin built on a picture of a dog and the belief that people should be free to do what they want.”
Horsley added that millions of Dogecoin holders have long asked for an ETP option, and BWOW aims to deliver that access.
The firm warned, however, that BWOW is not suitable for every investor.
As a non-1940 Act product, the fund does not come with the same investor protections as traditional ETFs and carries the risk of high volatility and potential total loss.
Bitwise also emphasized that holding BWOW is not equivalent to owning DOGE directly.
Despite its origins as a meme, Dogecoin has held a surprisingly durable place in the digital-asset rankings. It remains the seventh-largest cryptocurrency with a market cap of roughly $22 billion and sees about $1 billion in daily trading volume across centralized exchanges.
Created in 2013, the token has outlasted hundreds of short-lived altcoin experiments and built one of the most active online communities in crypto.
The ETF carries a 0.34% management fee, though Bitwise is waiving the fee for the first month on the initial $500 million in assets.
Bitwise, which now oversees more than $15 billion across more than 30 crypto investment products, says the launch reflects a broader shift in market structure as investors diversify beyond Bitcoin and Ethereum.
The turbulence in Bitcoin funds coincides with the rollout of a wave of new altcoin ETFs.
Over the past month, issuers have launched products tied to Solana, XRP, and Dogecoin, with more XRP and Dogecoin funds set to list next week.
The Canary Capital XRP ETF (XRPC) debuted with $58 million in net inflows, the highest opening-day haul for any ETF this year, edging out the Bitwise Solana Staking ETF (BSOL), which launched with $57 million.