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Bitwise has filed for the first-ever $NEAR ETF in the US, joining its efforts for altcoin ETFs like DOGE and APT.
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$NEAR’s price saw a 25% increase recently, though unrelated to the ETF filing, potentially boosting future interest.
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While the ETF could attract attention to $NEAR, the growing number of altcoin ETFs may limit its impact due to market saturation.
Bitwise’s recent $NEAR ETF filing marks a pivotal moment in crypto investments, potentially driving increased interest in this altcoin amid a saturated market.
Bitwise Attempts to Create $NEAR ETF
There is currently a flood of pending ETF applications in the US, and Bitwise is spearheading several of them. In addition to more mainstream ideas like an XRP ETF or a combined BTC/ETH product, it also has a few offbeat initiatives.
Today, Bitwise added one more proposal to this eclectic mix, filing to create an ETF based on $NEAR.
Presently, the filing is very barebones, and the public has little information. If Bitwise or the SEC posts the full application in the future, that could help clear up a few questions.