Bitwise Launches Dogecoin ETF on NYSE Amid Rising Altcoin ETF Demand

Bitwise Launches Dogecoin ETF on NYSE as Demand For Altcoin ETFs Grow

Bitwise Asset Management has introduced the Bitwise Dogecoin ETF as there is a growing interest from investors in altcoin exposure.

Key Takeaways:

The Bitwise Dogecoin ETF (BWOW) is designed to cater to the increasing demand for altcoin investment options.
Investors should be aware that the fund carries higher risks and offers fewer protections compared to traditional ETFs.
The strong community surrounding Dogecoin and its established market presence are key factors driving institutional interest.

The Dogecoin ETF will begin trading on the New York Stock Exchange under the ticker BWOW starting from November 26, 2025.

Bitwise CEO Highlights Dogecoin's Community Appeal

Bitwise CEO Hunter Horsley stated that the company is addressing a significant demand from one of the most distinctive communities in the crypto world.

“DOGE started off as a joke but has now become a symbol of the crypto movement,” he explained. “It doesn’t profess to change capital markets or offer profound fundamentals. It’s a 12-year-old coin rooted in a picture of a dog and the belief in personal freedom in financial choice.”

Horsley also noted that countless Dogecoin holders have been requesting an ETP option, which BWOW intends to fulfill.

However, potential investors should consider that BWOW may not be suitable for all individuals. As a non-1940 Act product, this fund does not provide the same level of investor protections that traditional ETFs do, carrying the potential for high volatility and even total loss.

Furthermore, Bitwise clarified that possessing BWOW shares is not the same as directly owning Dogecoin (DOGE).

Despite starting as a meme, Dogecoin has remarkably maintained a strong position in the cryptocurrency rankings. It currently holds the seventh-largest market cap, valued at around $22 billion, with an impressive daily trading volume of about $1 billion across centralized exchanges.

Launched in 2013, Dogecoin has survived numerous altcoin fads and has nurtured one of the most engaged online communities in the crypto space.

The ETF charges a management fee of 0.34%, but Bitwise will waive this fee for the first month on the first $500 million in assets.

Currently managing over $15 billion in more than 30 different crypto investment products, Bitwise highlights this launch as part of a broader trend where investors are looking to diversify their portfolios beyond just Bitcoin and Ethereum.

New Altcoin ETFs Gain Attention as Bitcoin Funds Face Challenges

As Bitcoin funds experience volatility, a series of new altcoin ETFs are emerging.

In the past month, various issuers have introduced products linked to Solana, XRP, and Dogecoin, with more XRP and Dogecoin funds expected to be listed next week.

The Canary Capital XRP ETF (XRPC) made a notable debut, attracting $58 million in net inflows, the largest opening-day figure for any ETF this year, surpassing the Bitwise Solana Staking ETF (BSOL), which opened with $57 million.

BSOL has quickly garnered attention, becoming one of the standout success stories of 2025, accumulating over $660 million in assets within three weeks without experiencing any days of outflows.

Recently, it was reported that the New York Stock Exchange has approved the listing of Grayscale’s XRP and Dogecoin exchange-traded funds, allowing both products to begin trading on Monday.

NYSE Arca, the exchange's ETF-focused subsidiary, confirmed the listing and registration of the Grayscale XRP Trust ETF Shares and the Grayscale Dogecoin Trust ETF Shares under the Securities Exchange Act of 1934, ensuring their readiness to enter the market.