Bitwise, the renowned digital asset management company, has officially filed a S-1 registration statement for a NEAR exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), as disclosed in a recent S-1 filing.
The proposed Bitwise NEAR ETF is poised to offer investors the chance to gain exposure to the NEAR token via a conventional brokerage account, eliminating the need for direct digital asset ownership. This is akin to how the Bitwise spot Bitcoin ETF, BITB, provides exposure to Bitcoin.
Bitwise’s move to register with the regulator comes almost two weeks following its application to initiate a Bitwise NEAR ETF in Delaware, perceived as a precursor to an ETF launch.
NEAR, the native token of the Near protocol, was trading at $2.30 per token, reflecting a 2.15% decline over the past day, based on data from The Block’s NEAR price page.
Alongside NEAR, several other companies have proposed establishing ETFs that track digital assets such as DOGE, PENGU, SEI, and TRX, as reported by The Block.
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