The era of altcoin ETFs officially began on October 28 with Litecoin, Hedera, and Solana exchange-traded funds.
These financial products have witnessed impressive appetite as they outperform leading Bitcoin and Ethereum ETFs.
For instance, Solana’s exchange-traded funds have seen positive flows since their launch.
Now, we’re talking about meme token ETFs.
They are crucial as they introduce institutional-grade utility into cryptocurrencies that rely on hype.
Grayscale’s GDOG went live early this week, on Monday, and has likely experienced significant demand.
Within two days, Bitwise adds to the momentum with an announcement of the Bitwise Dogecoin ETF, set to start trading on November 26, 2025, according to today’s press release.
The asset manager emphasized that community demand prompted the move, stating:
We weren’t expecting to launch this product, but the DOGE community requested, nay demanded, this.
That means the BWOW launch isn’t coming after a long-term corporate plan.
Instead, growing and persistent demand from the Dogecoin community fueled the ETF’s debut.
An internet joke turns financial icon
Meanwhile, Bitwise CEO Hunter Horsley highlighted Dogecoin’s unlikely growth in the financial space.
The crypto began as a joke, and is now materializing into a legitimate financial product.
Indeed, the DOGE team didn’t build a revolutionary instrument with a robust utility narrative.
Dogecoin introduced a light-hearted dog to indicate that crypto should be free for all to participate and experiment.
The altcoin rose against all odds, maintaining its market value and cultural relevance for nearly 13 years.
Now, the DOGE “community that numbers in the millions” is demanding exposure to the meme token in an exchange-traded product model.
Horsley said:
Bitwise is launching BWOW because many DOGE holders, a community that numbers in the millions, want the benefit that comes from getting exposure to crypto in an ETP format, and we believe they should have it.
Dogecoin’s rise into a respected financial product
Despite its somewhat controversial origins, DOGE has grown into a noticeable asset.
Dogecoin is the 9th largest digital token, boasting a market cap of $22.87 billion (CoinMarketCap data).
Moreover, the $1 billion in daily traded volume signals massive trader interest in the original meme coin.
BWOW’s trading details
The Bitwise Dogecoin ETF starts trading on the New York Stock Exchange today.
Notably, early adopters will enjoy zero fees for a month before the company shifts to a 0.34% management fee. The announcement clarified:
The Bitwise Dogecoin ETF will trade on NYSE starting November 26, 2025, under the ticker BWOW.
The management fee will be 0.34%, with the fee set at 0% for the first month on the first $500 million in assets.
DOGE is trading at $0.1504 after shedding more than 5% of its value over the past week, influenced by broader market weakness.
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