Isabella García
Bitwise Asset Management has officially filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a NEAR-based exchange-traded fund (ETF), according to a newly published S-1 document. This move positions Bitwise to potentially become the first issuer of a NEAR ETF in the United States.
If approved, the Bitwise NEAR ETF would allow investors to gain exposure to the NEAR Protocol’s native token without directly holding or managing the cryptocurrency themselves. The structure mirrors Bitwise’s already approved spot Bitcoin ETF (BITB), which provides similar access to Bitcoin through traditional financial channels.
Regulatory Progress Follows Delaware Filing
This SEC registration follows Bitwise’s recent filing in Delaware, seen as a strategic pre-launch step commonly used by firms preparing to bring a new ETF product to market. Bitwise has not yet made an official statement regarding the latest submission, and PRIME has reached out for comment.
NEAR Price Dips Slightly Amid ETF Buzz
As news of the ETF proposal surfaced, NEAR was trading at $2.30, reflecting a 2.15% decline over the past 24 hours, according to pricing data from PRIME. Despite short-term volatility, institutional interest could fuel long-term demand for the asset, particularly if the ETF gains regulatory approval.
Growing Interest in Altcoin ETFs
Bitwise is not alone in its push to bring non-Bitcoin crypto ETFs to market. Several firms have recently submitted proposals for ETFs linked to other digital assets such as Dogecoin (DOGE), Sei (SEI), Pengu (PENGU), and TRON (TRX). These developments reflect a growing appetite among investors for diversified crypto exposure through regulated investment vehicles.
