Bitwise simply filed for a NEAR ETF, the primary such software in the USA. In the previous few weeks, the agency has tried to create a number of new altcoin ETF merchandise primarily based on DOGE, APT, and others.
NEAR itself has been comparatively quiet in 2025, however this software may appeal to elevated curiosity within the venture.
Bitwise Makes an attempt to Create NEAR ETF
There’s at the moment a flood of pending ETF purposes within the US, and Bitwise is spearheading a number of of them. Along with extra mainstream concepts like an XRP ETF or a mixed BTC/ETH product, it additionally has a couple of offbeat initiatives.
Immediately, Bitwise added yet one more proposal to this eclectic combine, submitting to create an ETF primarily based on NEAR.
Presently, the submitting may be very barebones, and the general public has little data. If Bitwise or the SEC posts the total software sooner or later, that would assist clear up a couple of questions.
For now, it could be protected to imagine that the NEAR ETF resembles Bitwise’s different latest altcoin efforts.
NEAR is a Proof-of-Stake L1 blockchain optimized for dApp improvement. Launched in late 2020, it splits blockchains into sub-chains with unbiased validators to extend transaction processing effectivity.
The altcoin noticed heightened curiosity on the tail finish of final 12 months however has had a comparatively smaller presence all through 2025.
Now that Bitwise needs to create a NEAR ETF, that may appeal to some consideration. The asset’s worth has been on the upswing; after a hunch in mid-April, it elevated over 25% within the final two weeks.
Clearly, these positive factors don’t have anything to do with Bitwise’s submitting, however the ETF effort would possibly assist construct ahead momentum.
Bitwise’s present plan includes a number of different “first of its variety” ETFs, and a NEAR product would possibly face a crowded market if accredited. Because the variety of altcoin ETFs will increase, the legislation of diminishing returns may have a unfavourable impression.
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