Data as of .
BWOW vs GDOG: which tracked its coin?
Over the window both share, BWOW finished 0.17 of a percentage point behind Dogecoin and GDOG 0.16 ahead.
ETFIQ Coin Capture Score: BWOW scores higher
How much of what holding the coin gave did a holder of the fund keep?
A percentile among the 28 spot crypto ETPs listed less than a year. It is a position in a set, not a rating, and neither end of it is a recommendation. All crypto ETFs ranked by it · How it is computed
The same coin, two trusts
BWOW and GDOG hold the same asset. Both are 1933 Act trusts holding Dogecoin through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the days each has traded, BWOW finished 0.23 of a percentage point behind Dogecoin and GDOG 0.57 of a percentage point behind, but the two windows are not the same days, so neither figure is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one figure.
Performance, window by window
| Window | Total return | The coin over the same days | Difference, percentage points | |||
|---|---|---|---|---|---|---|
| BWOW | GDOG | BWOW | GDOG | BWOW | GDOG | |
| 1 month | +19.7% | +19.9% | +21.1% | +21.1% | −1.4 pts | −1.2 pts |
| 3 months | −3.5% | −3.5% | −1.9% | −1.9% | −1.6 pts | −1.5 pts |
| 6 months | −12.3% | −12.0% | −12.2% | −12.2% | −0.2 pts | +0.2 pts |
| Since each listed | −45.8% | −45.0% | −45.5% | −44.5% | −0.2 pts | −0.6 pts |
| BWOW Bitwise Dogecoin ETF Holds Dogecoin through a custodian, listed Nov 26, 2025 | GDOG Grayscale Dogecoin Trust ETF Holds Dogecoin through a custodian, listed Nov 24, 2025 | |
|---|---|---|
| Sponsor | Bitwise | Grayscale |
| Holds | Dogecoin | Dogecoin |
| Net assets | $473,547, balance sheet of Jun 30, 2026 | not read |
| Sponsor’s fee | 0.34% | 0.35% |
| Fee waiver | the whole fee, until December 24, 2025 | the whole fee |
| Staking | the chain has none | the chain has none |
| Listed | Nov 26, 2025 | Nov 24, 2025 |
| Days since listing | 289 days | 291 days |
| Days it has traded | 198 | 200 |
| Days it closed unchanged | 1 | 0 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −45.8% | −45.0% |
| The coin over the same days | −45.5% | −44.5% |
| Difference, percentage points | −0.2 pts | −0.6 pts |
| Fund returned since it listed | −45.8% | −45.0% |
| Difference since it listed | −0.2 pts | −0.6 pts |
| Price | $13.8376 | $9.9239 |
BWOW in plain words
BWOW holds Dogecoin through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Dogecoin moved −45.5% and BWOW returned −45.8%. That leaves it 0.23 of a percentage point behind. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. BWOW charges 0.34% a year and finished 0.2% behind Dogecoin, so the fee is almost the whole of the difference. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Dogecoin it custodies.
GDOG in plain words
GDOG holds Dogecoin through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Dogecoin moved −44.5% and GDOG returned −45.0%. That leaves it 0.57 of a percentage point behind. GDOG charges 0.35% a year and finished 0.6% behind Dogecoin, so the fee is less than the whole difference and the rest is what the market paid for the shares, which moved against holders.
Questions people ask
- Which tracked Dogecoin more closely, BWOW or GDOG?
- Over the days each has traded, BWOW finished 0.23 of a percentage point behind Dogecoin and GDOG 0.57 of a percentage point behind. Those are not set against each other here, because the two windows are not the same days, so neither is nearer its coin than the other on this page. Each difference carries the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin.
- Do BWOW or GDOG pay a staking yield?
- Dogecoin is a proof of work chain, so there is nothing to stake and no fund holding it can pay a staking yield.
- What is the difference between BWOW and GDOG?
- Both hold Dogecoin through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. BWOW is sponsored by Bitwise and listed Nov 26, 2025; GDOG by Grayscale, listed Nov 24, 2025.
- Which is cheaper, BWOW or GDOG?
- BWOW charges 0.34% a year and GDOG charges 0.35%, so BWOW is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BWOW against GDOG, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/BWOW-GDOG Free to use with attribution; the underlying files are at Open data.