Bitwise to liquidate Dogecoin ETF due to lack of demand
- —Fund assets fell from $1.15 million to $473,500 over six months
- —Shares outstanding dropped from 60,000 to 40,000, with 20,000 redeemed
- —Last trading day is October 14, liquidation on October 22
- —ETF approval does not guarantee sustained investor demand
Why it matters: The case shows that regulatory approval does not create demand: the altcoin ETF market will weed out products based on liquidity and real usage.
Source: Bitcoin Insider