Bitwise Submits Amended S-1 for Spot NEAR Protocol ETF

Bitwise Asset Management has submitted an amended S-1 registration statement for its proposed spot NEAR Protocol exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).

The filing, made on July 2, updates the initial registration statement and is a common step in the regulatory review process as applicants respond to SEC feedback.

This move follows a broader trend of asset managers seeking to offer spot crypto ETFs beyond Bitcoin and Ethereum, with Bitwise being a prominent player in the digital asset ETF space.

The proposed NEAR ETF aims to provide investors with direct exposure to the NEAR Protocol's native token without needing to directly hold the cryptocurrency, simplifying access and potentially attracting a wider range of institutional and retail investors.