Bitwise Continues Altcoin ETF Efforts with NEAR Filing

Bitwise just filed for a NEAR ETF, the first such application in the United States. In the last few weeks, the firm has attempted to create several new altcoin ETF products based on DOGE, APT, and others.

NEAR itself has been comparatively quiet in 2025, but this application could attract increased interest in the project.

Bitwise Attempts to Create NEAR ETF

There is currently a flood of pending ETF applications in the US, and Bitwise is spearheading several of them. In addition to more mainstream ideas like an XRP ETF or a combined BTC/ETH product, it also has a few offbeat initiatives.

Today, Bitwise added one more proposal to this eclectic mix, filing to create an ETF based on NEAR.

Bitwise Files for NEAR ETF. Source: State of Delaware

Presently, the filing is very barebones, and the public has little information. If Bitwise or the SEC posts the full application in the future, that could help clear up a few questions.

For now, it may be safe to assume that the NEAR ETF resembles Bitwise’s other recent altcoin efforts.

NEAR is a Proof-of-Stake L1 blockchain optimized for dApp development. Launched in late 2020, it splits blockchains into sub-chains with independent validators to increase transaction processing efficiency.

The altcoin saw heightened interest at the tail end of last year but has had a relatively smaller presence throughout 2025.

Now that Bitwise wants to create a NEAR ETF, that might attract some attention. The asset’s price has been on the upswing; after a slump in mid-April, it increased over 25% in the last two weeks.

Obviously, these gains have nothing to do with Bitwise’s filing, but the ETF effort might help build forward momentum.

NEAR Protocol Monthly Price Chart. Source: BeInCrypto

Bitwise’s current plan involves several other “first of its kind” ETFs, and a NEAR product might face a crowded market if approved. As the number of altcoin ETFs increases, the law of diminishing returns could have a negative impact.