Bitwise Files to Launch a NEAR ETF

Bitwise Asset Management has made a significant move by applying to the US SEC for a spot NEAR exchange-traded fund, marking an important milestone for the altcoin market.

Announced on May 6, this filing elevates NEAR—a layer-1 blockchain known for its scalability—among cryptocurrencies seeking ETF approval. It reflects growing investor interest in diversified crypto exposure through regulated financial products.

The Bitwise NEAR ETF is designed to track the price movements of the NEAR token, excluding associated expenses, allowing investors to gain exposure without directly holding the digital asset.

According to the registration statement, Coinbase Custody will be the fund’s custodian, ensuring secure storage of NEAR tokens. While details like the management fee, ticker symbol, and target exchange are yet to be revealed, the fund aims to trade on traditional brokerages, making it accessible to mainstream investors.