• Bitwise launches BWOW Dogecoin ETF on NYSE Arca after completing full SEC regulatory review.
• Coinbase Custody Trust Company will securely store the ETF’s underlying Dogecoin assets for investors.
• Bitwise emphasizes Dogecoin’s strong market cap and high community demand for a regulated investment product.

Bitwise Asset Management has now launched an exchange-traded fund that is pegged to Dogecoin. In the world of meme cryptocurrency, the launch marks a landmark moment that has long been called for by the DOGE community.

The Bitwise Dogecoin ETF, listed under the ticker symbol BWOW, starts trading on the NYSE Arca exchange today. The reason for the delay in the ETF’s trading has now come to an end, as the NYSE Arca has now approved the listing and the SEC has concluded the review process on November 12, 2025.

Bitwise Debuts BWOW Dogecoin ETF

BWOW has been listed on NYSE Arca under the guidelines provided in the Exchange Act of 1934 and was registered under the Securities Act of 1933. The purpose of the ETF was supposed to represent the price action of the Dogecoin cryptocurrency.

The fund’s Dogecoin assets will be warehoused by Coinbase Custody Trust Company, ensuring a regulated and secure environment for institutional and retail investors.

Bitwise announced the launch on X, saying that the trading volume and market cap of Dogecoin are sufficient for a product that would be bought and sold by the usual finance institutions. As of November 25, the market cap and the trading rate of Dogecoin reached $22 billion and over $1 billion, respectively.

Bitwise Warns Of BWOW Risks

Bitwise claimed the ETF was launched due to the continued demand from the Dogecoin community in search of a regulated investment product. The company cited the high interest in the product, largely because Dogecoin has always been among the top digital currencies.

Dogecoin remains among the leading cryptocurrencies in terms of market cap and always experiences steady interest in the market, even when the general interest in cryptocurrencies goes sluggish.

In its legal filings, Bitwise said that BWOW “is not registered under the Investment Company Act of 1940, and hence it is not bound by the regulations imposed on mutual funds.” Bitwise asserted that buying into BWOW poses the same risks as buying and holding Dogecoin.

Also Read | Dogecoin ETF Launches With $1.4 Million as Market Watches Altcoin Demand

Dogecoin ETF Space Gains Momentum

Bitwise is joining a market that has opened up in the last month with other Dogecoin-backed offerings. Just earlier this week, Grayscale launched its Dogecoin ETF. While there was no action on Tuesday, the first full day that the product traded in September 2011, Rex-Osprey offered a DOGE ETF with a different structure that was registered under the 1940 Act, hence actively managed.

Meanwhile, 21Shares has plans to list an ETF on Dogecoin. The company has recently upgraded its SEC filing and was able to get on the DTCC listing feed, an indicator that its product could be approved soon.

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