Bitwise Registers NEAR ETF in Delaware, Expanding Crypto Catalog

Bitwise Asset Management has registered a NEAR ETF trust on April 24, 2025, in Delaware.

Bitwise’s registration indicates increased institutional crypto engagement, as NEAR token sees a 4% surge.

Bitwise Files NEAR ETF Trust in Delaware

Bitwise Asset Management has taken initial steps towards a NEAR ETF, registering a statutory trust in Delaware. This follows Bitwise’s established procedure for crypto ETF deployments over the years.

The registration involves Hunter Horsley, CEO of Bitwise, known for promoting spot crypto ETFs. These steps indicate a continuation of Bitwise’s approach to expand its crypto portfolio.

NEAR Token Increases 4% Post-Registration

The registration led to a 4% increase in NEAR Protocol’s token value and a further 26% gain over the week. This suggests strong market confidence in NEAR’s ETF potential.

This move could signal more institutional investors entering the crypto market. NEAR ETF aims to provide regulated access, potentially altering capital flows into cryptocurrency. “Immediate market response for NEAR token has been positive, contributing to the ongoing narrative of crypto’s growing mainstream acceptance,” said Bitwise Asset Management. Source

Previous Trust Registrations Influence Market Response

Bitwise’s previous moves in filing such trusts for DOGE and XRP have shown similar market responses. These precedents indicate likely positive ETF impacts on the token price.

Expert opinions suggest that NEAR’s entry as a registered trust could lead to broader adoption if SEC approval is gained, aligning with current trends in institutional crypto expansion.