"We are reaching out to all those that love the Dow family. This fund is set up to help support Spencer's family through this difficult time and to give him the send-off he deserves.
"Additional funds will be used to offset expenses for his funeral services."
The page said Dow cared for his friends and family and he had an "infectious smile and easy-going nature" which would light up the room.
"When he was at Denison University, he studied abroad in Iceland, which sparked his curiosity and desire to travel the world. Whenever he had the opportunity, he travelled with his friends or family," it read.
"Spencer brought joy and humour to those around him - he will forever be in our hearts and we will miss him dearly."
The second man who died overnight in Dunedin Hospital, was also a a 23-year-old American, but could not yet be named.
Acting Inspector Craig Dinnissen of Dunedin confirmed this morning the second man had died overnight in Dunedin Hospital and the crash was now a double fatality.
The crash also left 10 people injured, St John said at the time.
The pair were believed to have met while travelling in New Zealand.
No one else involved in the crash sustained life-threatening injuries.
The cause of the crash is still being investigated and police would like to speak to any witnesses.
The crash near Kingston has fanned safety concerns regarding the tourist highway heading into the busy summer season.
The Otago Daily Times understands the driver of the car was passing a truck when the collision occurred.