Bitwise Registers NEAR Protocol ETF Entity in Delaware

Bitwise Asset Management, a leading crypto asset manager, has made a notable advancement in its efforts to launch an exchange-traded fund (ETF) that tracks the NEAR Protocol. On April 24, 2025, a Bitwise NEAR ETF entity was officially registered as a Delaware statutory trust under file number 10174379. This registration is a preliminary move in the process of introducing an ETF centered around the NEAR Protocol, a blockchain platform recognized for its developer-friendly environment and high performance.

The filing of the "Bitwise NEAR ETF" with the Delaware Division of Corporations signals Bitwise's intention to introduce a new investment vehicle to the market. If approved, this ETF would allow investors to gain exposure to the NEAR Protocol without directly holding the underlying cryptocurrency. The Delaware statutory trust structure is a common legal framework for ETFs, providing a balance between regulatory compliance and operational flexibility.

The NEAR Protocol has garnered attention for its innovative approach to blockchain scalability and usability. By prioritizing developer experience and ease of use, NEAR aims to attract a wider range of applications and users to its platform. An ETF tracking NEAR could be appealing to investors seeking to diversify their portfolios with exposure to advanced blockchain technologies, while also benefiting from the potential growth of the NEAR ecosystem.

Bitwise's decision to register a NEAR ETF comes at a time when the cryptocurrency market is seeing increased interest from institutional investors. ETFs have become a favored investment vehicle for gaining exposure to various asset classes, including cryptocurrencies, due to their liquidity, transparency, and ease of trading. By offering an ETF focused on the NEAR Protocol, Bitwise aims to provide investors with a convenient and regulated way to access this emerging technology.

The registration of the Bitwise NEAR ETF entity is a pivotal step in the process of launching an ETF. However, the approval process by regulatory authorities, such as the Securities and Exchange Commission (SEC), is still pending. The SEC has been cautious in approving cryptocurrency-related ETFs, citing concerns over market manipulation, liquidity, and investor protection. Bitwise will need to address these regulatory hurdles and demonstrate that its proposed ETF meets the necessary standards for approval.

In summary, Bitwise Asset Management's filing for a NEAR Protocol ETF represents a significant development in the cryptocurrency investment landscape. By registering a Delaware statutory trust, Bitwise has taken the first step towards offering investors a regulated and convenient way to gain exposure to the NEAR Protocol. However, the approval process by regulatory authorities remains a critical factor in the successful launch of this ETF. As the cryptocurrency market continues to evolve, ETFs focused on innovative blockchain technologies like NEAR could play an increasingly important role in attracting institutional investment and driving growth in the sector.