Bitwise has made headlines once again—this time by filing for a NEAR ETF, the first of its kind in the United States. This move comes amid a wave of altcoin ETF proposals, highlighting Bitwise’s strategy to expand beyond mainstream crypto assets.
Bitwise Eyes the First NEAR ETF
In recent weeks, Bitwise has filed several ETF applications tied to popular altcoins like DOGE and APT. Now, NEAR Protocol joins the list. While the new filing is still in its early stages, it signals growing interest in bringing more diverse crypto products to traditional markets.
At the moment, the official details are limited. However, if this proposal mirrors Bitwise’s other altcoin ETF efforts, it may offer traditional investors a simple way to gain exposure to NEAR without holding the actual token.
NEAR’s Quiet 2025 May Be Turning Around
NEAR Protocol hasn’t made much noise this year—until now. The Layer 1 blockchain, which launched in 2020, is designed to scale decentralized apps efficiently by splitting networks into smaller sub-chains. It gained traction at the end of last year, but its visibility has dipped in 2025.
That could be changing. The news of a potential ETF has put NEAR back on the radar, coinciding with a 25% price increase over the last two weeks. While this rally began before the ETF filing, the additional exposure could help sustain momentum.
Could the ETF Spark Broader Growth?
Bitwise’s strategy includes multiple “first-ever” ETF attempts, from XRP to combined BTC/ETH funds. But with so many products flooding the market, analysts warn of diminishing returns. If too many niche ETFs hit the market at once, investor interest could become diluted.
Even so, a NEAR ETF—if approved—could bring fresh capital and attention to a project that’s built for long-term utility and growth.
