Bitwise has decided to shut down its Dogecoin ETF less than a year after launch. According to the plan, the last trading day on NYSE Arca will be October 14, and any remaining investors will get their shares cashed out on October 22. The company said the move is part of "optimizing its product lineup to fit evolving investor needs."

Shutdown Timeline

Trading for the fund will end on October 14 on NYSE Arca. After trading halts, any shares still held by investors will be redeemed for cash on October 22, as detailed in a filing with the SEC.

What Holders Need to Know

If you're holding shares, you’ve got two options: sell them on the exchange before the final trading day, or wait for the cash payout on the redemption date. Make sure to check with your broker about how the liquidation will be processed and if there are any fees involved.

Why Bitwise Pulled the Plug

Bitwise says the closure is about "optimizing its product lineup to meet shifting investor demand." The company hasn’t shared any further details about future plans for its ETF offerings.