Bitwise’s Bold Move with NEAR ETF: Will It Make Waves or Just Splash?

In a move that screams “I’m trying to be relevant,” Bitwise has filed for the first-ever NEAR ETF in the United States. Just a few weeks ago, they tried their hand at launching a handful of altcoin ETFs based on DOGE, APT, and a few others—because why not keep the audience guessing, right?

NEAR has been, well, “quietly optimistic” throughout 2025. But, with this ETF filing, the project might just be dragged into the spotlight. Oh joy, more attention for NEAR!

Bitwise’s Latest Gamble: NEAR ETF

Ah, the United States—land of the brave and home of the ETF applications. The flood of pending filings continues, and Bitwise is leading the charge, as always. Sure, they’ve got the typical suspects like XRP or the ever-popular BTC/ETH combo, but why settle for normal when you can throw a NEAR ETF into the mix?

Today, in an unexpected (or maybe not so unexpected) twist, Bitwise decided to go ahead and add yet another “unique” filing to the list—an ETF based on NEAR. Bold move, Bitwise, bold move.

At the moment, the filing is rather skeletal, leaving us all wondering what exactly Bitwise has in mind. If the SEC or Bitwise deigns to release the full details, perhaps we’ll get answers—but don’t hold your breath.

For now, let’s assume that this NEAR ETF will be just like Bitwise’s other altcoin attempts: experimental and full of promise, or is it?

For those who might have forgotten what NEAR is (don’t worry, we all do sometimes), it’s a Proof-of-Stake L1 blockchain designed with dApp development in mind. Launched late in 2020, it splits blockchains into sub-chains, each with its own validator, because clearly, we needed more ways to overcomplicate things and improve transaction efficiency. You’re welcome, world.

NEAR was kind of the talk of the town at the end of last year, but its presence throughout 2025 has been… let’s say, less than overwhelming. But hey, with Bitwise’s filing, maybe this will be NEAR’s “big break.” Fingers crossed, right?

As for the price? Well, it’s been steadily climbing—probably not due to Bitwise’s filing, mind you—but that 25% bump in the last two weeks certainly can’t hurt the cause. So, don’t get too excited about the ETF just yet; it might be a case of “look, a shiny new thing!”

Let’s be honest, though, Bitwise’s plan includes a lot of “first of its kind” ETFs, and if the NEAR product does get approved, it will likely be entering a market that’s already getting pretty crowded. But hey, who’s counting the diminishing returns that will inevitably follow?

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2025-04-26 01:36