Bitwise Targets NEAR With New Spot ETF Proposal Amid Altcoin ETF Push

Bitwise is expanding its crypto ETF ambitions with a new filing for a spot NEAR ETF, signaling growing institutional interest in altcoins beyond Bitcoin and Ethereum.

The proposed fund would track NEAR Protocol’s token price and use Coinbase Custody for secure asset storage. Full details such as fees, ticker, and exchange venue are still under wraps.

This move follows Bitwise’s earlier registration of a NEAR trust in Delaware, a typical precursor to ETF filings. Once a 19b-4 is submitted, the SEC review process will officially begin.

NEAR joins a crowded field of digital assets now lined up for ETF consideration. The SEC is already reviewing applications tied to Solana, Dogecoin, XRP, Avalanche, and others.

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Bitwise itself has multiple ETF filings in play and has already launched successful spot Bitcoin and Ethereum ETFs, which have pulled in more than $2.3 billion in net inflows.

Originally pitched as a scalable Ethereum alternative, NEAR supports high-speed transactions through Nightshade sharding and is now positioning itself as a hub for decentralized AI development. With a market cap of around $2.7 billion, it remains a mid-cap contender with strong technical backing.

As altcoins gain visibility in U.S. markets, Bitwise’s filing may help bring NEAR further into the mainstream — if regulators approve.

Alexander Stefanov