NEAR ETF Looms: Decoding Bitwise’s S-1 Filing for Crypto Investors

Wall Street’s latest crypto gambit takes shape as Bitwise files paperwork for a NEAR Protocol ETF—because what the market really needs is another speculative vehicle wrapped in regulatory ribbon.

The S-1 Breakdown

Bitwise’s filing reveals a calculated play on NEAR’s scalable blockchain tech, betting institutions will trade ’web3 infrastructure’ narratives like meme stocks. The fine print shows 85% allocation to spot NEAR tokens—no synthetic derivatives, just old-fashioned volatility.

Why This Matters

Approval could funnel institutional capital into NEAR’s $3B ecosystem, but remember: ETFs turn crypto’s wild west into a fee-generating theme park. Investors get exposure without self-custody headaches—and without the actual coins.

The Bottom Line

Another brick in crypto’s financialization wall. Whether that’s progress or just bankers finding new ways to skim 0.75% annual fees depends on your cynicism level.

NEAR joins the ETF race — Details

That being said, Bitwise’s latest S-1 filing for a Near Protocol ETF follows its prior registration of the fund in Delaware, signaling the next phase in its push for broader crypto ETF offerings.

The firm is expected to file a 19b-4 form through an exchange, initiating the formal approval process required by the SEC to list and trade the product.

With this addition, the SEC’s growing 2025 docket now includes over a dozen spot crypto ETF proposals, spanning assets like Solana [SOL], Ripple [XRP], Cardano [ADA], and Dogecoin [DOGE].

In fact recently, Litecoin [LTC] ETF application by Canary Capital also joined the list of pending ETFs.

Needless to say, Bitwise, already a key player in the space, has existing filings for DOGE, SOL, and XRP ETFs and currently manages spot Bitcoin [BTC] and Ethereum [ETH] funds on NYSE Arca, which have together seen $2.35 billion in inflows since launch.

Impact on NEAR’s price and what lies ahead?

However, despite Bitwise’s ETF filing, NEAR Protocol is trading at $2.30, reflecting a modest 0.90% dip over the last 24 hours, according to CoinMarketCap.

NEAR’s short-term price movement remains muted, but its long-term narrative continues to be strong.

Once considered a potential Ethereum competitor, NEAR aims to solve the blockchain dilemma by balancing decentralization, scalability, and security.

With Paul Atkins leading regulatory shifts, the SEC’s growing openness toward clearer crypto policies may create a more favorable environment.

This change could benefit protocols like NEAR, which are pushing the boundaries of blockchain innovation.