NEAR ETF Fund: Lessons from Bitwise's S-1 Filing

* Bitwise's NEAR ETF filing signals growing interest from institutional investors in altcoin investment products.

• Near Protocol aims to address blockchain issues with scalability, security, and decentralization.

Bitwise has taken an important step towards launching the Near Protocol ETF [NEAR] by filing an S-1 registration statement with the (SEC).

If approved, this proposed fund will track the price of NEAR, providing investors with regulated access to its price performance.

This development shows optimistic prospects for Near Protocol, with the potential to drive higher demand and enhance recognition in the cryptocurrency space.

NEAR participates in the ETF race — Details

However, Bitwise's latest S-1 filing for the Near Protocol ETF follows the previous fund registration in Delaware, marking the next phase in the effort to expand cryptocurrency ETF services.

The company plans to submit Form 19b-4 through an exchange, initiating the official approval process required by the SEC to list and trade the product.

With this addition, the list of cryptocurrency ETFs proposed for 2025 by the SEC now includes more than a dozen spot ETF proposals, including assets such as Solana [SOL], Ripple [XRP], Cardano [ADA], and Dogecoin [DOGE].

Recently, the Litecoin ETF application [LTC] from Canary Capital has also joined the list of ETFs awaiting processing.

Needless to say, Bitwise, has been a key player in the market, with applications for DOGE, SOL, and XRP ETFs, and is currently managing spot Bitcoin [BTC] and Ethereum [ETH] funds on NYSE Arca, which have collectively attracted $2.35 billion in investments since inception.

Impact on NEAR price and what’s coming next?

Although Bitwise has filed for an ETF, NEAR Protocol is trading at $2.30, reflecting a modest decrease of 0.90% in the past 24 hours, according to CoinMarketCap.

The short-term price movement of NEAR is still quiet, but its long-term story remains strong.

NEAR was once considered a competitor to Ethereum, aiming to solve blockchain issues by balancing decentralization, scalability, and security.

With Paul Atkins leading the regulatory changes, the SEC's increasing openness towards cryptocurrency policy could clearly create a more favorable environment.

This change could benefit protocols like NEAR, which are pushing the boundaries of blockchain innovation.

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