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Bitwise launches NEAR price rally with new ETF registration


Terms of Bitwise NEAR ETF registration
Currently, the application is under review by the Delaware Division of Corporations. Typically, this registration is the first step a firm takes when intending to file a proposal for listing a spot ETF with the U.S. Securities and Exchange Commission (SEC).

Notably, the fund was registered in Delaware on April 24 under the name "BITWISE NEAR ETF." After SEC confirmation, a waiting period will begin. After this waiting period, the firm will receive either approval or a rejection from the Commission regarding the listing proposal.

The improvement of the crypto environment in the USA gives many hope that the SEC will approve most applications for spot ETFs, including XRP, SOL, and NEAR ETFs.

Like other funds, this ETF will introduce institutional investors to the price movements of NEAR, the native token of Near Protocol. Such a turn of events could mean a bullish turn for the price of NEAR, given that more capital will flow into the altcoin.

Forecast and price prediction for the NEAR protocol
NEAR was trading at $2.63 at the time of publication, reflecting a price increase of 3.58% over the past 24 hours.


Its market capitalization was green, and the trading volume reflected ongoing interaction with the NEAR protocol. The trading volume metric recorded a 0.87% 24-hour increase. At the time of publication, it was $191.67 million.

At the same time, it is still unclear whether the asset manager will engage with this fund at the SEC. However, the filing for the Bitwise NEAR ETF could provoke even greater price growth and enhance the ecosystem for this altcoin.

Meanwhile, Near Protocol is known for its high-performance Layer-1 blockchain. It also boasts increased scalability and accessibility for developers. With the current forecast and future adoption, the price of NEAR could move towards new local highs.

The crypto-ETF cycle is growing; which altcoin will be next?
It is no longer news that asset management companies have shown interest in offering spot ETFs tied to top altcoins. This began with spot Bitcoin ETFs in January 2024, followed a few months later by Ethereum ETFs.

In recent months, applications have been submitted to the SEC for Solana, XRP, Litecoin (LTC), Aptos (APT), and even Dogecoin (DOGE).

Bitwise is one of the asset managers that has filed applications for crypto-ETFs. Five months ago, the firm applied for a listing of a Solana ETF with the SEC. At that time, it joined VanEck, 21Shares, and Canary Capital, which had previously submitted their S-1 registration statements.
It has also filed applications for DOGE, XRP, and APT ETFs. Bitwise has taken this strategy a step further by launching a collection of crypto-ETFs. This offering includes the addition of three new actively managed products to the existing portfolio.
The crypto community is currently awaiting the submission of more crypto-ETFs to the SEC in the USA. This trend may extend to privacy-oriented cryptocurrencies such as Monero (XMR) and Stellar (XLM).



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