⚡ Bitwise has just announced the liquidation of the Dogecoin spot ETF $DOGE BWOW because it failed to attract capital.
BWOW’s cumulative net inflows have turned negative by $1.23 million, and the fund is left with only $687,000 in net assets. Trading will stop on October 14, with cash expected to be distributed around October 22.
Why is this notable?
This is not an isolated case: all of the new Dogecoin spot ETFs have attracted only $12 million since launch. January brought in $4 million, then by September capital started flowing out again, while CleanCore and Bit Origin both stopped buying additional DOGE.
In simple terms:
Institutional money flowing into DOGE is drying up, DOGE’s price fell to $0.082 and then edged back up to $0.083, and if selling pressure continues it could retest the $0.081 level.
#Altcoins #CryptoNews
🔗 Source: AMBCrypto
⚠️ This information is for reference only, not investment advice. Please do your own research before making any decision (DYOR).
BWOW’s cumulative net inflows have turned negative by $1.23 million, and the fund is left with only $687,000 in net assets. Trading will stop on October 14, with cash expected to be distributed around October 22.
Why is this notable?
This is not an isolated case: all of the new Dogecoin spot ETFs have attracted only $12 million since launch. January brought in $4 million, then by September capital started flowing out again, while CleanCore and Bit Origin both stopped buying additional DOGE.
In simple terms:
Institutional money flowing into DOGE is drying up, DOGE’s price fell to $0.082 and then edged back up to $0.083, and if selling pressure continues it could retest the $0.081 level.
#Altcoins #CryptoNews
🔗 Source: AMBCrypto
⚠️ This information is for reference only, not investment advice. Please do your own research before making any decision (DYOR).