BitWise aims with a new spot-ETF proposal on Near in the middle of the Altcoin ETF booms
Bitwise extends its ambitions in the area of crypto ETFs with a new application for a spot-year ETF and thus signals the growing interest of institutional investors in old coins beyond Bitcoin and Ethereum.
The proposed Fund would reproduce the token price of the Near protocol and use Coinbase Custody for the safe storage of the assets. All details such as fees, tickers and trading square are not yet known.
This step is followed by the earlier registration of a near-Near Trust by Bitwise in Delaware, a typical forerunner for ETF applications. As soon as a 19b-4 form is submitted, the review process is officially begins.
Near is thus part of a long list of digital assets that are currently being checked for ETF approval. The SEC is already examining applications for Solana, Dogecoin, XRP, Avalanche and others.
Bitwise himself has made various ETF applications and has already launched successful spot ETFs for Bitcoin and Ethereum, which recorded net inflows of more than $ 2.3 billion.
Originally presented as a scalable alternative to Ethereum, Near supports high-speed transactions thanks to the nightshade-sharing and is now positioning itself as a hub for decentralized AI development. With a market capitalization of around $ 2.7 billion, it remains a mid-cap candidate with strong technical support.
Since old coins on the US markets are increasingly gaining visibility, Bitwise's application could help bring Near to the mainstream-provided the supervisory authorities agree.
