Bitwise Makes Crypto History: Files for First-Ever NEAR ETF with SEC

Wall Street’s crypto invasion accelerates as Bitwise drops a regulatory bombshell—the first-ever NEAR Protocol ETF filing. Move over, Bitcoin spot ETFs—this is the next frontier.

Why it matters: The SEC just got a 75-page argument for why NEAR’s sharded, proof-of-stake blockchain deserves mainstream investor access. Cue the usual bureaucratic foot-dragging.

The subtext: Institutional demand isn’t waiting for perfect regulation. While traditional finance debates ’blockchain vs. Bitcoin,’ builders keep shipping. Now even Layer 1 alts get their Wall Street close-up.

Bonus cynicism: Nothing says ’mature asset class’ like packaging a decentralized protocol into a fee-generating wrapper. The more crypto changes...

The filing was done under the name “Bitwise NEAR ETF,” and Bitwise Investment Advisers, LLC was mentioned as the fund sponsor. The firm is headquartered in San Francisco, California.

In April, the firm filed a new entity named Bitwise NEAR ETF in Delaware on April 24, 2025, under file number 10174379. This is Bitwise’s first official move towards providing a spot ETF that mirrors the price of NEAR, the native cryptocurrency of the NEAR Protocol blockchain.

This is part of Bitwise’s bigger attempt to offer regulated, cryptocurrency-backed investment products. They have already submitted or launched ETFs based on other cryptocurrencies such as Bitcoin, Ethereum, and Solana.

After the latest filing, NEAR Protocol (NEAR) price was at around $6.79 as of writing on Tuesday, May 6.

Also Read: Bitwise CEO Predicts Bitcoin Could Reach $50 Trillion Valuation