Post

ETF closure, is someone predicting Dogecoin will go to zero? Bitwise shutting down its Dogecoin ETF would have been a big deal a year ago, but today it's just another line on the list of bearish news. This fund, with the ticker BWOW, launched at the end of November last year, lasted less than ten months, and now only has about $700,000 in assets left, with a net asset value down about 45% since inception. The liquidation is a product line cut, not a verdict on $DOGE itself. Trading stops on October 14, holdings will be converted to cash, and around the 22nd, net asset value will be returned to holders. The process is orderly, selling pressure limited, and similar Dogecoin funds are still operating normally. What weighs on the market is interest rates. From September 15 to 16, the FOMC meeting, the market priced in nearly a 60% chance of a 25 basis point rate hike. The hawkish stance of Powell and inflation exceeding expectations are the real reasons risk assets are pulling back. With bearish news stacking up this densely, one more or one less line barely moves sentiment—many people, many forks, but the meal remains the same. The ETF closure is a product line shutdown, not the foundation of Dogecoin. On-chain activity, payment use cases, and community stickiness remain intact. With the rate hike implemented, one uncertainty is off the table; once tightening is fully priced in, the liquidity premium will return. Getting through this phase will make what comes next much easier.