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Bitwise throws spot NEAR ETF in race for SEC approval

  • Bitwise Asset Management filed an S-1 form with the U.S. SEC on May 6, 2025, to launch a NEAR Protocol ETF that tracks NEAR's price.
  • This filing follows Bitwise's strategy to expand crypto ETF offerings beyond major coins and to include altcoins like NEAR, ranked 43rd by market cap.
  • The ETF would allow institutional investors to gain NEAR exposure without handling private keys or custody, aligning with the SEC's trend toward approving crypto ETFs.
  • Hunter Horsley, CEO of Bitwise, stated that the company is pleased to provide institutional investors with access to NEAR while eliminating the challenges of handling private keys and custody.
  • If approved, the ETF could increase NEAR’s legitimacy and institutional engagement, potentially influencing a crypto market rally expected in the latter half of 2025.
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TokenPost broke the news in on Tuesday, May 6, 2025.
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