Crypto news

The Great ETF Race: NEAR, XRP, and Solana Battle for the Crown

BBG News

Bitwise, the brave new gladiator in the crypto arena, has filed its S-1 form, ready to launch a spot exchange-traded fund (ETF) that will follow the twists and turns of the NEAR Protocol (NEAR). They say the future belongs to those who file the right forms, and Bitwise clearly agrees.

This trust, in all its glory, will provide direct exposure to the 33rd-largest cryptocurrency by market cap. Because why wouldn’t you want to bet on something ranked 33rd? No pressure, NEAR!

Honestly, the announcement shouldn’t come as a shock to anyone. Bitwise already slipped this paper into the Delaware filing system like a cat burglar last month. So, no real surprises here—except maybe that they didn’t file for 32nd place instead.

As of the last 24 hours, the price of NEAR has dropped by a modest 1.12%. A true testament to the unpredictability of crypto—one minute you’re up, the next, well, you’re down, but hey, who’s counting? Certainly not CoinMarketCap!

Now, NEAR has joined the chaos of the spot ETF race in the U.S., where it’s not the only contender. XRP and Solana (SOL) are strutting around like they own the place, already leading the charge in this mad scramble for supremacy. So, is NEAR the dark horse? Or just another crypto trying to hitch a ride on the coattails of those who already have a head start?

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2025-05-06 23:56

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