Bitwise Asset Management has registered a new entity called the Bitwise NEAR ETF in Delaware, marking the first step toward launching a NEAR Protocol-based exchange-traded fund (ETF) in the United States.
The registration was filed on April 24, 2025, under file number 10174379, according to the Delaware Division of Corporations. The move signals Bitwise’s plans to introduce a spot ETF that will track the price of NEAR, the native token of the NEAR Protocol blockchain. Bitwise CEO Hunter Horsley confirmed the filing in a statement to The Block.
NEAR is currently trading at $2.60, having increased by 3.36% over the past 24 hours. It is the 34th-largest cryptocurrency by market capitalization, with a market capitalization of approximately $3.14 billion, according to CoinMarketcap.
NEAR brands itself as a “blockchain for AI,” providing development tools that facilitate the work of artificial intelligence. If Bitwise gets the green light, it would be the very first NEAR-based ETF in the United States.
Bitwise had already created Delaware trusts for other crypto ETFs, such as Dogecoin and Aptos, and then filed with the SEC.
Similar to those efforts, the Bitwise NEAR ETF registration is expected to be a precursor to a formal S-1 application to the U.S. Securities and Exchange Commission. Moreover, these filings come as the SEC continues to review dozens of crypto-related ETF proposals.
Since January, the agency has withdrawn several legal actions against crypto firms and held public roundtables to explore industry-friendly policies.
Bitwise’s existing Spot Bitcoin ETF (BITB), launched in January 2024, has grown to $3.6 billion in assets under management. The firm now manages over $5 billion in total assets and offers a range of crypto investment products.
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