Bitwise Asset Management registers the first NEAR ETF in the US as institutional interest in altcoins rises.
- Main topic is Bitwise’s NEAR ETF registration in the US.
- Registration marks growing interest in NEAR altcoin.
- Potential ripple effects across other altcoins like Solana.
Bitwise Asset Management has registered the first NEAR ETF vehicle in the US as institutional interest in altcoins, including NEAR, grows rapidly.
This registration underscores increasing demand for altcoin ETFs, potentially influencing market dynamics significantly.
Bitwise Set to Register First NEAR ETF in US
Bitwise Asset Management seeks to bolster its crypto ETF portfolio by registering the first NEAR ETF in the US. This action highlights Bitwise’s ongoing commitment to expanding beyond Bitcoin and Ethereum offerings.
Key players involved include CEO Hunter Horsley and CIO Matt Hougan. Their strategic focus is on meeting heightened demand from institutions interested in altcoin exposure.
NEAR ETF Registration to Boost Institutional Access
The registration positions NEAR for increased institutional access, reflecting broader investment trends towards altcoins. Such moves are likely to elevate market confidence and interest in NEAR.
Financial implications include enhanced market liquidity and potential price movement for NEAR. This development echoes increased allocations seen in Solana, XRP, and similar assets.
Previous ETF Filings Suggest Price Surge Potential
Similar to Bitwise’s Bitcoin and Ethereum ETF launches, historical data shows that filing often precedes price surges and increased trading volumes. Such patterns might emerge with NEAR.
Past events suggest institutional inflows to NEAR could boost liquidity, as seen with preceding altcoin filings. This could contribute to an evolving narrative around NEAR and its competitors.
Hunter Horsley, CEO, Bitwise Asset Management: “Bitwise is committed to expanding crypto ETF offerings beyond BTC and ETH.”
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