Bitwise CEO calls Dogecoin ETF failure ‘tragic,’ highlights AI focus

Dogecoin ETF failure — Bitwise CEO Hunter Horsley has described the failure of a proposed Dogecoin ETF as “tragic,” suggesting it reveals a disconnect between traditional ETF investors and active crypto users, as his firm launches a spot NEAR ETF and prioritizes AI-related crypto products.

Horsley’s comments came alongside the launch of Bitwise’s spot NEAR Trust, an exchange-traded product providing exposure to the NEAR Protocol token. The CEO framed the Dogecoin ETF’s rejection as a missed opportunity, arguing that while DOGE has a massive user base and cultural footprint, it lacks the narrative appeal for traditional ETF buyers that other sectors like artificial intelligence possess.

This perspective informs Bitwise’s current strategic direction. The asset manager is explicitly prioritizing the AI sector within crypto for future product development, viewing it as a more compelling theme for the ETF marketplace. The firm intends to launch more products focused on AI and crypto intersection.

The commentary underscores a broader industry challenge: aligning the vibrant, community-driven use cases of crypto with the regulatory and narrative requirements of the mainstream financial products like ETFs. Bitwise’s pivot toward AI-themed products signals one firm’s attempt to bridge that gap.