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Digital asset supervisor Bitwise has filed to record a spot Close to exchange-traded fund with the US Securities and Change Fee, including to a rising record of altcoins presently vying to win regulatory approval.
The Bitwise Close to (NEAR) ETF will monitor the value actions of the NEAR token, minus bills, by way of a standard brokerage, Bitwise’s Could 6 registration assertion shows.
Bitwise named Coinbase Custody because the proposed custodian of the Bitwise NEAR ETF. The administration payment, ticker and inventory change it seeks to record on weren’t named but.
Bitwise should additionally file a 19b-4 submitting with the SEC to kickstart the regulator’s approval course of for the fund. The crypto native asset supervisor indicated it will make such a submitting when it registered a belief linked to the NEAR ETF in Delaware on April 28.
NEAR joins a pile of spot crypto ETFs on the SEC’s desk
The SEC now has a minimum of a dozen spot crypto ETFs to assessment in 2025, together with purposes for Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), XRP (XRP), Cardano (ADA), Hedera (HBAR), Polkadot (DOT), Chainlink (LINK), Avalanche (AVAX), Aptos (APT) and Sui (SUI).
Bitwise already has purposes out for a spot DOGE, SOL, and XRP ETFs, and in addition has an authorised spot Bitcoin (BTC) and Ether (ETH) ETF, that are listed on the NYSE Arca and have attracted a mixed $2.35 billion in internet inflows since launching final 12 months.
NEAR — the token powering the layer-1 Near blockchain — is the forty fourth largest cryptocurrency by market cap at $2.73 billion, CoinGecko data exhibits.
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Via Nightshade sharding, Close to can course of as much as 100,000 transactions per second and is secured by 265 lively validators, Nearblocks.io data exhibits.
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