🔥 Bitwise submits first NEAR ETF application to SEC
On May 6, Bitwise Asset Management filed an application with the SEC to establish the first NEAR spot ETF, using the CF NEAR-Dollar Settlement Price as the benchmark for determining net asset value. The fund aims to reflect the price fluctuations of token $NEAR and is custodied by Coinbase Custody.
This is a new milestone in the altcoin ETF race, demonstrating the growing demand from traditional investors seeking access to crypto through managed products. The decision from the SEC will play a key role in the future of altcoin ETFs like Solana, XRP, Cardano, and now NEAR.
