Bitwise Pursues NEAR ETF Amid Expanding Crypto Offerings
- Bitwise files for a NEAR ETF, indicating regulatory interest.
- NEAR token sees a 26% price rise following the filing.
- SEC’s views on altcoin ETFs show increasing openness.
Bitwise Asset Management has filed for NEAR Protocol ETF registration in Delaware as of April 24, 2025.
This filing signifies growing momentum behind altcoin ETFs, influencing NEAR’s market price.
Bitwise Files for NEAR Protocol ETF Registration
Bitwise Asset Management recently filed for a NEAR Protocol ETF. This move aligns with Bitwise’s ongoing strategies to explore securing regulatory approval for altcoin ETFs.
Led by CIO Matt Hougan, Bitwise aims to provide institutional investors access to NEAR. This marks a strategic segment of their efforts to expand ETF investment options.
NEAR Token Jumps 26% After ETF Announcement
NEAR’s price increased significantly following the ETF news. This may indicate strong positive sentiment from the market, with potential capital inflow surges into NEAR.
Industry experts suggest the SEC’s evolving stance could soon expand the availability of altcoin ETFs, driving positive institutional investor engagement. Matt Hougan, Chief Investment Officer at Bitwise, commented, “You may remember there was sort of a start and stop motion to these ETFs previously… I think the fact that you’re seeing them refiled across the board for multiple issuers suggests that, you know, the issuer community thinks the SEC is willing to investigate and consider these things… our view is that the SEC wants to take an accommodative view and help investors access these assets through ETPs. We’ll find out over the next six months. But by any perspective, the outlook is better than it was four weeks ago and dramatically better than it was four months ago.” source
Bitcoin and Ethereum ETF Impacts Set Precedent
Past ETF launches, like those for Bitcoin and Ethereum, show precedent impacts, often resulting in substantial price increases and market interest.
With continued positive SEC indications, future altcoin ETFs could potentially mirror these trends, presenting new opportunities for investor portfolios.
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