Near Protocol Gains More Attention as Bitwise Submits NEAR ETF Proposal to Regulators!

Jakarta, Pintu News – Bitwise, a company known for its innovation in crypto-based financial products, recently applied to create an ETF (Exchange-Traded Fund) based on NEAR, a relatively new cryptocurrency.

This marks the first step in this type of ETF application in the United States, focusing on altcoins like NEAR. With a relatively quiet history in 2025, NEAR is likely to gain new attention thanks to this venture.

Check out the full news below!

Bitwise and the NEAR ETF Initiative

Bitwise is no stranger to the ETF market, with some of their previously proposed products including an ETF for Ripple (XRP) and a combination Bitcoin (BTC)/Ethereum (ETH) product. This time around, Bitwise is adding NEAR to its innovative proposed portfolio.

While details of the filing are still minimal, many expect more information to be disclosed by Bitwise or the SEC soon. NEAR is an L1 blockchain that uses a Proof-of-Stake mechanism and is optimized for decentralized application (dApp) development.

With a system that divides the blockchain into sub-chains with independent validators, NEAR improves transaction processing efficiency. Although it hasn’t received much attention in 2025, Bitwise’s efforts could be a turning point to increase the interest and value of NEAR.

Read also: 3 Altcoins to Watch Ahead of Trump Gala Dinner

ETF Market and NEAR Potential

With an increasing number of ETF applications pending in the United States, the market for altcoin-based products is becoming increasingly competitive. A NEAR-based ETF, if approved, would be in the middle of an already crowded market. This raises the question of how this type of product will be received by investors and the broader market.

Additionally, NEAR’s price increase of more than 25% over the past two weeks demonstrates its untapped potential. Although this rise is not directly related to the ETF filing by Bitwise, the existence of an ETF product could strengthen this momentum. Investors may see this as an opportunity to get involved early in a potentially profitable investment.

Also read: Bitcoin (BTC) is predicted to reach $200,000 in 2025, crypto experts reveal this!

Outlook and Challenges for NEAR ETFs

Creating an ETF based on an altcoin like NEAR brings its own challenges. First, Bitwise had to convince regulators and investors of NEAR’s stability and growth potential.

This is not only about attracting investors who are already familiar with crypto, but also about expanding the market to conventional investors who may not be familiar with blockchain technology. Secondly, with the growing number of crypto-based ETF products, the effects of the law of diminishing returns may start to be felt.

Investors will probably be more selective in choosing which ETFs they want to invest in, especially if the market starts to get saturated. Bitwise needs to ensure that their NEAR ETFs stand out with uniqueness or advantages that other products do not offer.

That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.

Follow us on Google News to get the latest information about crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu Crypto via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Bitwise Files for Near Protocol ETF. Accessed on April 28, 2025
• Featured Image: Bloomberg