Bitwise submits S-1 for a spot NEAR ETF
Quick Take
- The digital asset management firm Bitwise submitted a registration statement for a spot NEAR exchange-traded fund with the Securities and Exchange Commission.
- The submission comes nearly two weeks after Bitwise filed to launch a Bitwise NEAR ETF in Delaware, which was seen as a preliminary step to launching an ETF.
The digital asset management firm Bitwise submitted a registration statement for a NEAR exchange-traded fund with the U.S. Securities and Exchange Commission, according to an S-1 filing.
Bitwise's NEAR ETF would give investors exposure to NEAR through a traditional brokerage account without them having to own the digital asset themselves — much like how Bitwise's spot bitcoin ETF BITB gives investors exposure to bitcoin.
The Block reached out to Bitwise for comment.
The official submission to the regulator comes nearly two weeks after Bitwise filed to launch a Bitwise NEAR ETF in Delaware, which is seen as a preliminary step to launching an ETF.
NEAR, the native token of the Near protocol, traded at $2.30 per token after falling 2.15% in the past day, according to The Block's NEAR price page.
Along with NEAR, companies are proposing establishing ETFs tracking the digital assets DOGE, PENGU, SEI, and TRX, among others, The Block previously reported.
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