Bitwise's NEAR ETF filing signals growing institutional interest, joining a wave of pending crypto ETF proposals.

Bitwise has taken the next step in its push for broader crypto exchange-traded fund (ETF) offerings by filing S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a Near Protocol [NEAR] ETF.

What happened: Bitwise is aiming to launch an ETF that will track the price of Near Protocol, providing investors with a regulated way to invest in the cryptocurrency. The firm had previously registered the fund in Delaware, and this filing is the next stage in the process.

The company will be filing a 19b-4 form through an exchange to begin the formal approval process required by the SEC to list and trade the product.

This filing adds to the SEC's growing 2025 docket, which now includes over a dozen spot crypto ETF proposals. Several other protocols are also included in the docket, with Solana [SOL], Ripple [XRP], Cardano [ADA], and Dogecoin [DOGE] ETFs also being registered.

A Litecoin [LTC] ETF application by Canary Capital was also recently registered with the SEC.

See More: Pro Crypto Coverage From Benzinga

Why it's important: Bitwise is a key player in the crypto ETF space, and its existing filings for DOGE, SOL, and XRP ETFs are also on the docket.

The firm currently manages spot Bitcoin [BTC] and Ethereum [ETH] funds on NYSE Arca, which have together seen $2.35 billion in net inflows since launch.

"This filing marks a significant step in our efforts to provide investors with access to a diverse range of cryptocurrencies through the ETF format," said Sumeru A., co-founder and CEO of Bitwise.

"We believe that these products can play a critical role in expanding the ETF ecosystem and offering investors greater choice and opportunity in today's evolving market."

At press time, Near Protocol was trading at $2.30, reflecting a 0.90% dip over the last 24 hours, according to CoinMarketCap.

While NEAR’s short-term price movement remains muted, its long-term narrative continues to be strong. Often touted as a potential competitor to Ethereum, Near Protocol aims to solve the "blockchain dilemma" by juggling scalability, security, and decentralization.

With Paul Atkins leading regulatory shifts and the SEC showing greater openness toward clearer crypto policies, protocols like Near Protocol could benefit from a more favorable environment to push the boundaries of blockchain innovation.

What's next: If approved by the SEC, the proposed fund will be listed on a U.S. exchange and will provide investors with a convenient and efficient way to gain exposure to NEAR. The fund will be structured as a conventional open-end interval fund, with Bitwise acting as the investment manager.

This filing is part of a broader trend in the institutional investment community, as more and more firms are seeking to launch crypto ETFs in response to growing investor demand.