Bitwise Asset Management has filed for a NEAR Protocol ETF registration, marking a significant development for crypto investors. Following this news, the NEAR token price surged by 26%.
Bitwise Files for NEAR Protocol ETF Registration
Bitwise Asset Management has filed for the registration of a NEAR Protocol ETF in Delaware as of April 24, 2025. This move demonstrates a growing interest in various altcoins and the firm's aim to attain regulatory approval to enter the ETF market.
NEAR Token Jumps 26% After ETF Announcement
NEAR's token price significantly increased by 26% after the ETF news broke. This indicates positive investor sentiment and potential capital inflows. Matt Hougan, Chief Investment Officer at Bitwise, stated, "You may remember there was sort of a start and stop motion to these ETFs previously... I think the fact that you're seeing them refiled across the board for multiple issuers suggests that, you know, the issuer community thinks the SEC is willing to investigate and consider these things."
Bitcoin and Ethereum ETF Impacts Set Precedent
The launches of ETFs for Bitcoin and Ethereum have shown how such initiatives can significantly impact prices and investor interest. With the current positive sentiments from the SEC, future altcoin ETFs could demonstrate similar trends, opening new opportunities for investors.
The Bitwise filing for the NEAR Protocol ETF reflects a sustained interest in alternative crypto assets. The success of this ETF could mark an important step in expanding investment portfolio opportunities.
