- Bitwise registered a NEAR ETF in Delaware signaling a plan to launch a NEAR-based fund in the United States.
- The filing follows a trend as Bitwise expands its crypto ETF lineup with focus on emerging blockchain networks.
- NEAR Protocol supports AI tools and gains attention as Bitwise moves to offer a spot ETF tracking its token.
Bitwise Asset Management has registered a new entity called Bitwise NEAR ETF in Delaware. The filing was made on April 24, 2025, under file number 10174379. This marks the firm’s first move toward launching a NEAR Protocol-based exchange-traded fund in the United States.
A New Addition to Bitwise’s Crypto ETF Lineup
The registration hints at Bitwise’s plan to introduce a spot ETF tracking NEAR, the native token of the NEAR Protocol. NEAR supports AI-focused blockchain applications and competes with networks like Ethereum and Solana. The token currently ranks 41st by market capitalization.
Bitwise already manages other crypto investment products. These include spot ETFs for Bitcoin, Dogecoin, and Aptos. Each began with a similar Delaware entity registration, followed by a filing with the U.S. Securities and Exchange Commission.
Strategic Timing Amid SEC Shifts
The new filing comes as the SEC shows signs of easing its stance on crypto. Since January, the agency has dropped legal actions against several crypto firms. It has also hosted public forums to discuss regulatory improvements. This shift has encouraged asset managers to pursue more crypto-based ETFs.
Bitwise’s existing Bitcoin ETF (BITB), launched in January 2024, currently manages $3.6 billion in assets. The firm now oversees over $5 billion across all its crypto investment products. Its strategy reflects growing investor demand for diversified crypto exposure.
NEAR Protocol Gains Momentum
NEAR Protocol has gained attention for its focus on AI-enabled blockchain development. Developers use its tools to build crypto-powered applications that handle complex tasks. Its design prioritizes speed and scalability, appealing to both startups and large projects.
The recent rise in NEAR’s token price supports investor interest. At the time of the filing, NEAR was trading at $2.61, up over 3% for the day. Market observers view the filing as a step that could increase mainstream access to the token.
More Crypto ETF Filings Expected
The Bitwise NEAR ETF filing joins a growing list of crypto ETF proposals. Several asset managers are also seeking approval for funds tied to Solana, XRP, and other digital assets. Smaller firms have even proposed ETFs for niche tokens like BONK and TRUMP.
A more crypto-friendly SEC under President Donald Trump may support more approvals. This change has raised optimism among fund managers and crypto investors. The Bitwise NEAR ETF could become the first U.S.-based ETF focused on the NEAR Protocol.
