Breaking: Bitwise Moves Closer to Launching a NEAR Protocol ETF
Insights from Bitwise's S-1 Document: What Investors Must Understand Regarding the Approaching ETF
Here's the lowdown on what's been buzzing in the crypto world!
Bitwise, the key player in the crypto investment game, has taken a giant leap forward by filing an S-1 registration with the U.S. Securities and Exchange Commission (SEC). The proposed fund is designed to track the performance of NEAR Protocol, offering a regulated avenue for investors to dive into the altcoin market.
If the SEC greenlights this fund, it would give NEAR Protocol a much-needed boost in visibility and demand within the crypto sphere.
Stepping Up the Game - The Details
Bitwise's latest move follows an earlier registration of the fund in Delaware, hinting at its determination to expand its crypto ETF offerings. The next step in this journey is the filing of a 19b-4 form, a crucial step required by the SEC to list and trade the product on a public exchange.
As of now, the SEC's 2025 docket includes over a dozen spot crypto ETF proposals, with NEAR Protocol joining the likes of Solana, Ripple, Cardano, Dogecoin, and even Litecoin.
Interestingly, Bitwise already has existing filings for DOGE, SOL, and XRP ETFs and manages spot Bitcoin and Ethereum funds on NYSE Arca. These funds have collectively amassed $2.35 billion in inflows since their launch.
What's Next for NEAR Protocol?
Despite the exciting news, NEAR Protocol is currently trading at $2.30, representing a slight 0.90% dip over the past 24 hours. Yet, NEAR's long-term narrative remains strong. Initially positioned as a potential Ethereum competitor, NEAR aims to strike the perfect balance between scalability, security, and decentralization.
With Paul Atkins leading regulatory shifts, the SEC's growing openness toward clearer crypto policies could create a more favorable environment. This transition could benefit innovative blockchain platforms like NEAR.
Stay tuned for updates on this exciting development in the world of crypto!
Note: This article is for informational purposes only and not financial advice. Always do your own research before making investment decisions.
Bitwise CIO Warns: Risky Crypto Summer Ahead if U.S. 'Fumbles' Key Legislations
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Sources:
[1] CoinDesk. (2025, May 5). Bitwise NEAR ETF Files for Listing on NYSE Arca. Retrieved May 5, 2025, from https://www.coindesk.com/business/2025/05/05/bitwise-near-etf-files-for-listing-on-nyse-arca/
[2] Coindesk. (2025, April 26). Bitwise Prepares Filing for NEAR ETF as Crypto ETF Race Ramps Up. Retrieved May 5, 2025, from https://www.coindesk.com/policy/2025/04/26/bitwise-prepares-filing-for-near-etf-as-crypto-etf-race-ramps-up/
[3] CoinDesk. (2025, April 7). SEC's Approval of First US Crypto ETF a 'Momentous Milestone'. Retrieved May 5, 2025, from https://www.coindesk.com/policy/2025/04/07/sec-s-approval-of-first-us-crypto-etf-a-momentous-milestone/
[4] Bitwise Asset Management. (2023, October 27). Bitwise Files for Registration Statement for First Ever Spot Bitcoin ETF. Retrieved May 5, 2025, from https://www.bitwiseinvestments.com/news/bitwise-files-for-registration-statement-for-first-ever-spot-bitcoin-etf/
[5] CoinDesk. (2025, April 6). Bitwise Establishes Delaware Entity for NEAR ETF. Retrieved May 5, 2025, from https://www.coindesk.com/business/2025/04/06/bitwise-establishes-delaware-entity-for-near-etf/
- Bitwise, a key player in crypto investment, has filed an S-1 registration with the SEC, aiming to launch a NEAR Protocol ETF.
- If approved, the NEAR Protocol ETF would offer a regulated avenue for investors to invest in altcoins.
- NEAR Protocol would receive a boost in visibility and demand within the crypto sphere if the SEC greenlights the fund.
- Bitwise's determination to expand its crypto ETF offerings is evident through a previous registration in Delaware and the upcoming filing of a 19b-4 form.
- This 19b-4 filing is a crucial step required by the SEC to list and trade the product on a public exchange.
- The SEC's 2025 docket includes over a dozen spot crypto ETF proposals, including Solana, Ripple, Cardano, Dogecoin, Litecoin, and now NEAR Protocol.
- Bitwise already has existing filings for DOGE, SOL, and XRP ETFs and manages spot Bitcoin and Ethereum funds on NYSE Arca, with a collective inflow of $2.35 billion since their launch.
- NEAR Protocol is currently trading at $2.30, but its long-term narrative remains strong, as it aims to compete with Ethereum by balancing scalability, security, and decentralization.
- Paul Atkins' regulatory shifts at the SEC could create a more favorable environment for innovative blockchain platforms like NEAR Protocol.
- Always do your own research before making investment decisions in the crypto market.
