Bitwise simply filed for a NEAR ETF, the primary such utility in the US. In the previous few weeks, the agency has tried to create a number of new altcoin ETF merchandise based mostly on DOGE, APT, and others.
NEAR itself has been comparatively quiet in 2025, however this utility may entice elevated curiosity within the undertaking.
Bitwise Makes an attempt to Create NEAR ETF
There’s presently a flood of pending ETF functions within the US, and Bitwise is spearheading a number of of them. Along with extra mainstream concepts like an XRP ETF or a mixed BTC/ETH product, it additionally has a couple of offbeat initiatives.
At present, Bitwise added another proposal to this eclectic combine, submitting to create an ETF based mostly on NEAR.
Presently, the submitting could be very barebones, and the general public has little data. If Bitwise or the SEC posts the complete utility sooner or later, that would assist clear up a couple of questions.
For now, it could be secure to imagine that the NEAR ETF resembles Bitwise’s different current altcoin efforts.
NEAR is a Proof-of-Stake L1 blockchain optimized for dApp improvement. Launched in late 2020, it splits blockchains into sub-chains with impartial validators to extend transaction processing effectivity.
The altcoin noticed heightened curiosity on the tail finish of final 12 months however has had a comparatively smaller presence all through 2025.
Now that Bitwise desires to create a NEAR ETF, which may entice some consideration. The asset’s value has been on the upswing; after a droop in mid-April, it elevated over 25% within the final two weeks.
Clearly, these good points don’t have anything to do with Bitwise’s submitting, however the ETF effort would possibly assist construct ahead momentum.
Bitwise’s present plan entails a number of different “first of its kind” ETFs, and a NEAR product would possibly face a crowded market if accepted. Because the variety of altcoin ETFs will increase, the legislation of diminishing returns may have a adverse influence.
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