Bitwise Files with SEC to Launch NEAR ETF

Bitwise Asset Management has submitted an S-1 registration with the U.S. SEC on May 6, 2025, aiming to introduce a NEAR ETF to track the value of NEAR Protocol’s token.

This move signifies Bitwise’s commitment to expanding crypto investment offerings, potentially boosting institutional interest in altcoins and impacting future regulatory perspectives.

Bitwise Asset Management filed an S-1 registration with the SEC to launch a spot NEAR ETF. Scheduled as a Delaware statutory trust registered in April 2025, it tracks NEAR Protocol’s token value.

Coinbase Custody will manage NEAR tokens, while CF Benchmarks handles pricing. The ETF would provide fractional token ownership without derivatives. Institutional focus on altcoins grows, following Bitcoin and Ethereum’s paths.

Bitwise Leadership, Bitwise Asset Management, “This ETF represents a significant potential development for institutional access to the NEAR Protocol, showcasing our belief in the future of layer-1 solutions.” – source

This ETF proposal reflects increasing optimism about cryptocurrency as assets beyond Bitcoin. NEAR Protocol could indirectly influence similar altcoins with pending ETF applications.

Successfully launching the NEAR ETF would require Bitwise to file a 19b-4 form to start formal SEC review processes. No ticker symbol or exchange listing has been disclosed as yet.

The move may influence institutional interest in NEAR and similar altcoin ETFs, solidifying their position as emerging investment vehicles within regulated markets.

NEAR Protocol’s status as a high-throughput, energy-efficient blockchain underlines its appeal while addressing the blockchain scalability challenge. The SEC’s decision could affect the future of layer-1 protocol ETFs.

Historical precedents with Bitcoin ETFs highlight potential regulatory hurdles or facilitation. Institutional inclusion of NEAR may prompt growth of alternative crypto ETF products in regulated markets.