{"id":25487,"date":"2025-05-06T23:31:38","date_gmt":"2025-05-06T23:31:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=25487"},"modified":"2025-05-06T23:31:38","modified_gmt":"2025-05-06T23:31:38","slug":"bitwise-throws-near-etf-in-race-for-sec-approval-with-s-1-filing","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=25487","title":{"rendered":"Bitwise throws NEAR ETF in race for SEC approval with S-1 filing"},"content":{"rendered":"
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\"Bitwise<\/p>\n

Digital asset manager Bitwise has filed to list a spot Near exchange-traded fund with the US Securities and Exchange Commission, adding to a growing list of altcoins currently vying to win regulatory approval.<\/p>\n

The Bitwise Near (NEAR<\/a>) ETF will track the price movements of the NEAR token, minus expenses, through a traditional brokerage, Bitwise\u2019s May 6 registration statement shows<\/a>.<\/p>\n

Bitwise named Coinbase Custody as the proposed custodian of the Bitwise NEAR ETF. The management fee, ticker and stock exchange it seeks to list on weren\u2019t named yet.\u00a0<\/p>\n

\"Bitwise
Source: <\/em>Cointelegraph<\/em><\/a><\/figcaption><\/figure>\n

Bitwise must also file a 19b-4 filing with the SEC to kickstart the regulator’s approval process for the fund. The crypto native asset manager indicated it would make such a filing when it registered<\/a> a trust linked to the NEAR ETF in Delaware on April 28.<\/p>\n

NEAR joins a pile of spot crypto ETFs on the SEC\u2019s desk<\/h2>\n

The SEC now has at least a dozen spot crypto ETFs to review in 2025, including applications for Litecoin (LTC<\/a>), Dogecoin (DOGE<\/a>), Solana (SOL<\/a>), XRP (XRP<\/a>), Cardano (ADA<\/a>), Hedera (HBAR<\/a>), Polkadot (DOT<\/a>), Chainlink (LINK<\/a>), Avalanche (AVAX<\/a>), Aptos (APT<\/a>) and Sui (SUI<\/a>).<\/p>\n

Bitwise already has applications out for a spot DOGE, SOL, and XRP ETFs, and also has an approved spot Bitcoin (BTC<\/a>) and Ether (ETH<\/a>) ETF, which are listed on the NYSE Arca and have attracted a combined $2.35 billion in net inflows since launching last year.<\/p>\n

NEAR \u2014 the token powering the layer-1 Near blockchain<\/a> \u2014 is the 44th largest cryptocurrency by market cap at $2.73 billion, CoinGecko data<\/a> shows.<\/p>\n

The Near blockchain was once touted as an Ethereum killer<\/a> and is considered by its proponents as a solution to the \u201cblockchain trilemma\u201d \u2014 the challenge of achieving all three critical aspects of blockchain performance<\/a>: security, scalability and decentralization.<\/p>\n

Related: <\/strong><\/em>Ethereum\u2019s era of crypto dominance is over \u2014 LONGITUDE panel<\/strong><\/em><\/a><\/p>\n

Through Nightshade sharding<\/a>, Near can process up to 100,000 transactions per second and is secured by 265 active validators, Nearblocks.io data<\/a> shows.<\/p>\n

\"Bitwise
Source: <\/em>Justin Bons<\/em><\/a><\/figcaption><\/figure>\n

The Near ecosystem shifted from decentralized finance to AI infrastructure in 2024, unveiling plans to build<\/a> the world\u2019s largest open-source large language model.<\/p>\n

Magazine: <\/strong><\/em>12 minutes of nail-biting tension when Ethereum\u2019s Pectra fork goes live<\/strong><\/em><\/a><\/p>\n