Bitwise Asset Management Registers “Bitwise NEAR ETF” in Delaware, Signaling Early Move Toward Offering a Spot Near Protocol (NEAR) ETF

Bitwise Asset Management has registered the “Bitwise NEAR ETF” in Delaware, signaling an early move toward offering a spot Near Protocol (NEAR) ETF in the United States.

The U.S. is slowly opening up to cryptocurrencies as the new administration creates a more favorable regulatory environment for digital assets. As part of this move, Bitwise Asset Management has registered the “Bitwise NEAR ETF” in Delaware.

This signals an early move toward offering a spot Near Protocol (NEAR) exchange-traded fund in the country. According to Delaware’s Division of Corporations, the trust entity was filed by the asset manager on April 24. This is the first official step before seeking approval from the U.S. Securities and Exchange Commission (SEC).

Confirming the registration, Hunter Horsley, CEO and co-founder of Bitwise, stated that the firm is focused on providing innovative investment products to meet the evolving needs of today’s investors.

This filing could open the door for broader institutional access to the NEAR ecosystem as the regulatory climate for crypto-related ETFs continues to improve.

Expand Plans for ETF Products as SEC Approvals Pour In

The asset manager submitted its application amid increased optimism for the approval of cryptocurrency ETFs. SEC leadership under the present administration has shown more acceptance toward digital assets.

The SEC first approved spot Bitcoin ETFs in January, while spot Ethereum ETFs received approval in July after a court supported Grayscale in its case against the regulator for a Bitcoin trust.

In addition to Bitcoin and Ethereum, asset managers such as Bitwise have pursued ETFs with increased dedication across various crypto assets. The asset manager has also submitted its registration documents to the SEC for Dogecoin, Aptos, Solana, and XRP ETFs.

The firm demonstrates its continued interest in diversification through the NEAR filing, amid growing investor interest in altcoins. However, the SEC has delayed multiple ETF proposals, which include the Polkadot ETF from Grayscale and the HBAR ETF from Canary Capital.

The extended review time highlights the regulator’s support for blockchain products; however, the agency follows a step-by-step evaluation process.

The move by the asset manager comes after the crypto asset manager submitted applications for five new Bitcoin (BTC) and Ethereum (ETH) ETFs earlier this year. These applications are currently pending approval from the SEC.

The asset manager is also seeking to launch ETFs that track the prices of several other cryptocurrencies, including Dogecoin (DOGE), Aptos (APT), Solana (SOL), and XRP.