Bitwise: Toward a NEAR Protocol ETF?

Investment firm Bitwise has just filed an S-1 form with the SEC to launch a spot ETF backed by NEAR Protocol, currently the 33rd largest crypto by market capitalization. This decision follows an initial administrative filing made in April in the state of Delaware, a sign that this launch was already being prepared.

Investment firm Bitwise has just filed an S-1 form with the SEC to launch a spot ETF backed by NEAR Protocol, currently the 33rd largest crypto by market capitalization. This decision follows an initial administrative filing made in April in the state of Delaware, a sign that this launch was already being prepared.

After spot ETFs for Bitcoin and Ethereum, a new dynamic is emerging in the crypto ecosystem. XRP and Solana (SOL) are leading the way with increasingly serious filings to U.S. regulators. Bitwise’s official filing for NEAR Protocol confirms the rise of this trend and illustrates the growing appetite of institutions for altcoins.

The arrival of these new ETFs could profoundly transform the market by facilitating traditional investors’ exposure to digital assets without having to directly hold cryptocurrencies. The signal is clear: altcoins such as XRP, Solana, and Near Protocol are taking more and more space in traditional finance.

Still Limited Impact on NEAR Price

Despite this announcement of the S-1 filing, NEAR’s price fell 1.12% over the last 24 hours. A measured reaction, probably due to awaiting SEC approval. However, this initiative could act as a medium-term catalyst if realized, much like similar projects around XRP and Solana.

Indeed, if the Near Protocol ETF is approved, it would pave the way for increased institutional exposure, similar to what XRP and Solana ETFs could bring. These financial products could increase liquidity, reinforce the legitimacy of these altcoins, and attract new capital inflows, thus boosting their valuation in the medium term.

Near Protocol’s entry into the spot ETF race thus marks a key milestone for altcoins. If the SEC approves this initiative among 70 other pending approval requests, the crypto landscape could radically evolve by fully integrating assets like XRP, Solana, and NEAR into institutional portfolios. A silent revolution may already be underway.