Bitwise Registers NEAR ETF in Delaware for SEC Approval

Bitwise Asset Management has filed for a NEAR-based ETF registration through a Delaware trust, targeting SEC approval by 2025.

This filing marks a significant stride toward offering institutional investors access to NEAR, pending an S-1 filing with the SEC.

Bitwise’s Strategic Move: NEAR ETF Registration

Bitwise Asset Management has registered a Delaware trust for a NEAR-based ETF, a precursor to SEC filing. This aligns with their recent strategy for crypto investment products. “Bitwise is following a playbook it used for previous filings, such as the Aptos and Dogecoin ETFs, by registering the NEAR ETF in Delaware,” said Hunter Horsley, CEO of Bitwise, in a statement to The Block.

CEO Hunter Horsley is involved, ensuring Bitwise continues its innovative strategy by potentially becoming the first to launch a NEAR ETF.

Potential Boost for NEAR Protocol Visibility

The registration could catalyze institutional and retail interest in NEAR Protocol, increasing trading volumes and asset visibility significantly. If approved, the NEAR ETF promises enhanced market exposure for NEAR Protocol, reflecting in broader financial participation and heightened market dynamics.

Delaware Trust Model Mirrors Past ETF Filings

Bitwise employs a familiar playbook, similar to its DOGE and APT filings, using Delaware trusts to expedite federal processes.

Approval could mirror effects seen with prior ETFs, potentially boosting NEAR’s market position, assuming favorable SEC review outcomes.