Yigit Taha OZTURK 
Digital asset manager Bitwise has filed an S-1 registration with the SEC, proposing a spot ETF that will track NEAR token’s price. With this move, Bitwise brings NEAR into the competitive field of altcoin ETFs seeking regulatory approval.
According to the May 6 filing, the Bitwise NEAR ETF will reflect the token’s market performance minus management expenses. Coinbase Custody has been named the proposed custodian, but the ticker, exchange, and fee details remain undisclosed.
SEC Faces Growing List Of Spot ETF Filings
The SEC now has over a dozen crypto ETF applications in its queue for 2025, including Litecoin (LTC), Dogecoin (DOGE), Solana (SOL), XRP, Cardano (ADA), Hedera (HBAR), Polkadot (DOT), Chainlink (LINK), Avalanche (AVAX), Aptos (APT), and Sui (SUI).
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Bitwise previously submitted ETF filings for DOGE, SOL, and XRP, and already manages approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs listed on NYSE Arca, which have gathered over $2.35 billion in net inflows since launch.
NEAR’s Vision: From DeFi To AI Infrastructure
With a market cap of $2.73 billion, NEAR ranks as the 44th largest cryptocurrency by CoinGecko. The blockchain is known for tackling the “blockchain trilemma” of decentralization, scalability, and security.
In 2024, the NEAR ecosystem pivoted from DeFi to AI, announcing a plan to build the world’s largest open-source large language model. Its Nightshade sharding tech allows for up to 100,000 transactions per second, backed by 265 active validators, according to Nearblocks.io.
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