Bitwise pulling the plug on their $DOGE ETF (BWOW) after less than a year.
Only $688K in AUM as of Sept 9. Trading stops Oct 14, cash out Oct 22.
For context: $DOGE is a top 10 coin by market cap and this ETF couldn't even crack $1M in assets.
Tells you everything about institutional appetite for meme coins vs actual on-chain degen activity. TradFi doesn't get it and probably never will.
Meanwhile $DOGE still does billions in volume daily on CEXs. The disconnect is real.
Only $688K in AUM as of Sept 9. Trading stops Oct 14, cash out Oct 22.
For context: $DOGE is a top 10 coin by market cap and this ETF couldn't even crack $1M in assets.
Tells you everything about institutional appetite for meme coins vs actual on-chain degen activity. TradFi doesn't get it and probably never will.
Meanwhile $DOGE still does billions in volume daily on CEXs. The disconnect is real.
