Bitwise Files for NEAR Protocol Spot ETF Amid Growing Crypto ETF Trend

Bitwise has officially submitted an S-1 filing with the U.S. Securities and Exchange Commission to launch a spot exchange-traded fund (ETF) that tracks NEAR Protocol (NEAR), offering direct exposure to the 33rd-largest cryptocurrency by market capitalization. This move follows Bitwise’s prior registration of the NEAR ETF in Delaware last month, signaling its growing commitment to expanding crypto investment options.

The NEAR Protocol ETF aims to provide investors with regulated access to NEAR’s market performance without the need to hold the asset directly. As interest in spot crypto ETFs continues to surge in the U.S., NEAR joins other major altcoins like XRP and Solana (SOL) in the competitive ETF race. Currently, XRP and Solana lead in terms of regulatory momentum and institutional demand, but Bitwise’s filing places NEAR firmly in the spotlight as a rising contender.

NEAR’s price has declined 1.12% over the past 24 hours, according to CoinMarketCap, amid broader market fluctuations. Despite short-term volatility, the filing reflects increasing institutional interest in alternative Layer 1 blockchain projects beyond Bitcoin and Ethereum.

This development also aligns with recent crypto ETF milestones, such as the launch of spot Bitcoin ETFs and the growing push for regulated investment vehicles that appeal to traditional finance. With multiple crypto-related ETFs under review by the SEC, Bitwise’s NEAR Protocol trust highlights the expanding diversification of digital asset investment products.

As regulatory clarity improves, more altcoin-based ETFs are expected to emerge, reshaping how retail and institutional investors gain exposure to the crypto market. NEAR’s inclusion in this trend suggests confidence in its long-term value and blockchain utility.