- Bitwise’s NEAR ETF filing signals rising institutional interest in altcoin-based investment products.
- Near Protocol aims to solve the blockchain dilemma with scalability, security, and decentralization.
Bitwise has taken a significant step toward launching a NEAR Protocol [NEAR] ETF by filing an S-1 registration with the U.S. Securities and Exchange Commission (SEC).
If approved, the proposed fund will track NEAR’s price, giving investors regulated access to its market performance.
This development signals a bullish outlook for Near Protocol, likely driving higher demand and greater visibility in the crypto space.
NEAR joins the ETF race — Details
That being said, Bitwise’s latest S-1 filing for a Near Protocol ETF follows its prior registration of the fund in Delaware, signaling the next phase in its push for broader crypto ETF offerings.
The firm is expected to file a 19b-4 form through an exchange, initiating the formal approval process required by the SEC to list and trade the product.
With this addition, the SEC’s growing 2025 docket now includes over a dozen spot crypto ETF proposals, spanning assets like Solana [SOL], Ripple [XRP], Cardano [ADA], and Dogecoin [DOGE].
In fact recently, Litecoin [LTC] ETF application by Canary Capital also joined the list of pending ETFs.
Needless to say, Bitwise, already a key player in the space, has existing filings for DOGE, SOL, and XRP ETFs and currently manages spot Bitcoin [BTC] and Ethereum [ETH] funds on NYSE Arca, which have together seen $2.35 billion in inflows since launch.
Impact on NEAR’s price and what lies ahead?
However, despite Bitwise’s ETF filing, NEAR Protocol is trading at $2.30, reflecting a modest 0.90% dip over the last 24 hours, according to CoinMarketCap.
NEAR’s short-term price movement remains muted, but its long-term narrative continues to be strong.
Once considered a potential Ethereum competitor, NEAR aims to solve the blockchain dilemma by balancing decentralization, scalability, and security.
With Paul Atkins leading regulatory shifts, the SEC’s growing openness toward clearer crypto policies may create a more favorable environment.
This change could benefit protocols like NEAR, which are pushing the boundaries of blockchain innovation.