Bitwise Throws Hat in ETF Ring With First-Ever NEAR Fund—Wall Street’s Crypto FOMO Grows
Move over, Bitcoin ETFs—Bitwise just fired the starting gun on the next speculative frenzy. The asset manager’s newly filed NEAR ETF application puts SEC regulators in the hot seat as institutional demand for altcoin exposure hits fever pitch.
Why it matters: While Bitcoin and Ethereum ETFs now trade like blue chips, this marks Wall Street’s first attempt to package NEAR’s sharded proof-of-stake promises for the masses. Cue the usual chorus of ’infrastructure play’ buzzwords from analysts who couldn’t explain the blockchain’s tech stack if their bonuses depended on it.
The bottom line: Another day, another crypto product begging for legitimacy via SEC rubber stamp. Whether this gets approved faster than a banker’s expense report remains to be seen.
Bitwise Asset Management, a major name in crypto investing, has just filed a new application with the U.S. SEC (Securities and Exchange Commission) to launch a spot NEAR Protocol (NEAR) ETF. This move puts NEAR among a growing list of alt... Read More
