Bitwise Files NEAR ETF in Delaware—Crypto Fund Frenzy Hits New High

Wall Street’s latest crypto craving? A bite of NEAR. Bitwise just dropped paperwork in Delaware for a NEAR Protocol ETF, riding the wave of institutional demand that’s turning crypto funds into the new money-market accounts.

Why it matters: The SEC’s slow-mo approval dance hasn’t stopped asset managers from flooding the zone with filings. This move comes as crypto ETFs collectively rake in billions—despite half of traditional finance still calling it a ’fad’ over martinis.

Bottom line: When even Delaware—corporate America’s favorite filing cabinet—starts seeing blockchain ETFs, the institutional pivot is undeniable. Just don’t expect the suits to understand sharding.

• Bitwise registers a Bitwise NEAR ETF in Delaware, fueling optimism for a future SEC filing.
• NEAR Protocol’s price rises over 6% after Bitwise’s Delaware ETF registration confirmation.
• Bitwise expands its crypto ETF lineup as the SEC reviews dozens of new digital asset proposals.

Bitwise Asset Management has registered the “Bitwise NEAR ETF” in Delaware, signaling an early move toward offering a spot NEAR Protocol (NEAR) ETF in the United States. According to Delaware’s Division of Corporations, Bitwise filed the trust entity on April 24, marking the first official step before seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC).

Hunter Horsley, CEO and co-founder of Bitwise, confirmed the registration. This filing could pave the way for broader institutional access to the NEAR ecosystem as regulatory conditions for crypto-related ETFs continue to improve under the new U.S. administration.

Bitwise Expands ETF Plans as Regulatory Climate Shifts

Bitwise submitted its application amid increased Optimism for the approval of cryptocurrency ETFs. SEC leadership under the present administration has shown more acceptance toward digital assets. The SEC first approved spot Bitcoin ETFs in January 2024, while spot Ethereum ETFs received approval in July 2024 after a court supported Grayscale.

In addition to Bitcoin and Ethereum, asset managers such as Bitwise have pursued ETFs with increased dedication across various crypto assets. The asset manager has also submitted its registration documents to the SEC for Dogecoin, Aptos, Solana, and XRP ETFs. The firm demonstrates its continued interest in diversification through the NEAR filing, amid growing investor interest in altcoins.

Despite this momentum, the SEC delayed multiple ETF proposals, which include the Polkadot ETF from Grayscale and the HBAR ETF from Canary Capital. The extended review time highlights the regulator’s support for blockchain products: however, the agency follows a step-by-step evaluation process.

NEAR Price Responds Positively to ETF News

NEAR Protocol’s native token saw a significant price increase following the announcement of its registration for the ETF. According to CoinMarketCap data, the NEAR token saw a 6.5% price rise, with the current value at $2.60 per token. The NEAR token ROSE by more than 26% in the past week as investors showed confidence in the planned ETF development.

NEAR currently holds a market capitalization of about $3.14 billion, ranking it among the top 40 digital assets. Often referred to as “the blockchain for AI,” Near Protocol continues to position itself as a leading platform in the evolving blockchain sector.

Moreover, the proposed ETF by the asset manager would enable institutions to obtain direct exposure to the NEAR ecosystem after filing both S-1 and 19b-4 forms with the SEC. The proposed access would create better market participation and increased liquidity for the altcoin.