Bitwise has officially launched BWOW, the first-ever spot Dogecoin ETF on the New York Stock Exchange. This move allows traditional investors to gain regulated exposure to Dogecoin without needing to handle crypto wallets or private keys.
Unlike futures-based products, BWOW holds actual Dogecoin tokens. This means each share in the ETF is backed by real DOGE, giving investors transparent and direct exposure to the coin’s market performance.
The fund is designed to appeal to both crypto-curious investors and institutional participants who want to include Dogecoin in their portfolios through a familiar investment vehicle.
Fee Structure and Limited-Time Promotion
BWOW comes with a 0.34% annual management fee. However, Bitwise is offering a special promotion: the fee is waived for the first 30 days, on up to $500 million in assets under management.
This temporary fee waiver makes BWOW especially attractive to early investors looking for low-cost crypto exposure. It also signals Bitwise’s commitment to building strong liquidity and volume from launch.
By eliminating fees during the critical early phase, Bitwise aims to draw attention from a wide range of market participants and encourage inflows.
LATEST: Bitwise launches BWOW on NYSE, holding 16.43M $DOGE, with a 0.34% fee that’s temporarily waived under its $500M AUM/ one-month promo. pic.twitter.com/fS2RROSy6Y
— Cointelegraph (@Cointelegraph) November 26, 2025
A New Era for Dogecoin Investing
The launch of BWOW is a major milestone for Dogecoin and the broader crypto market. For many retail and institutional investors, the biggest hurdle has been crypto custody — managing wallets, protecting private keys, and navigating unregulated exchanges.
With BWOW, those concerns are eliminated. Investors can buy and sell DOGE exposure just like any other ETF, through standard brokerage accounts. This opens the door for Dogecoin to be included in retirement plans, wealth portfolios, and even institutional strategies.
Still, investing in BWOW carries similar risks to buying Dogecoin directly — including high price volatility and the unpredictable nature of the crypto market. Additionally, long-term holders should be aware that the fund’s assets may gradually decline due to the management fee, once it’s in effect.
Nonetheless, BWOW could bring significant attention and inflows to the Dogecoin ecosystem, especially if it gains traction with large investors and fund managers.