Bitwise Files for First-Ever NEAR ETF with SEC

Bitwise, one of the largest crypto asset managers, has formally filed with the U.S. Securities and Exchange Commission (SEC) to introduce a NEAR ETF (exchange-traded fund) on May 6, 2025.

Such a fund would provide investors with a simple mechanism to invest in NEAR Protocol, a rapidly expanding Layer-1 blockchain, without having to directly hold or store the cryptocurrency themselves. If approved, the Bitwise NEAR ETF would make it easier for traditional investors to obtain exposure to the NEAR token via the stock market. This would eliminate the need to buy or store the crypto directly.

Bitwise Files for First-Ever NEAR ETF, Source: StreetInsider

The filing was done under the name “Bitwise NEAR ETF,” and Bitwise Investment Advisers, LLC was mentioned as the fund sponsor. The firm is headquartered in San Francisco, California.

In April, the firm filed a new entity named Bitwise NEAR ETF in Delaware on April 24, 2025, under file number 10174379. This is Bitwise’s first official move towards providing a spot ETF that mirrors the price of NEAR, the native cryptocurrency of the NEAR Protocol blockchain.

This is part of Bitwise’s bigger attempt to offer regulated, cryptocurrency-backed investment products. They have already submitted or launched ETFs based on other cryptocurrencies such as Bitcoin, Ethereum, and Solana.

After the latest filing, NEAR Protocol (NEAR) price was at around $6.79 as of writing on Tuesday, May 6.