- Bitwise registers NEAR ETF, opening new pathways for direct crypto exposure in the U.S.
- NEAR Protocol’s strong market reaction signals rising institutional interest post-ETF news.
- Bitwise’s NEAR ETF launch builds momentum for blockchain tokenization through regulated funds.
Bitwise Asset Management has officially registered the Bitwise NEAR ETF in Delaware, a move signaling its intent to expand crypto investment products. The trust aims to offer U.S. investors direct exposure to NEAR Protocol’s native token through a regulated exchange-traded vehicle.
Bitwise NEAR ETF Formation Details
Bitwise formed the Bitwise NEAR ETF as a statutory trust on April 24, 2025, according to Delaware Division of Corporations data. “HUGE news for crypto, big win for NEARProtocol,” Wals posted on X, highlighting Bitwise’s move as a significant step forward for NEAR’s adoption. The trust is registered under file number 10174379, with CSC Delaware Trust Company listed as its registered agent.
The entity’s legal formation does not confirm operational readiness but establishes the legal groundwork for fund development. In a post by Wals, NEAR was praised as one of the best Layer 1 blockchains due to its scalability and developer focus. Bitwise’s decision to proceed with NEAR reflects broader momentum toward blockchain asset tokenization through traditional financial structures.
During the same period, Bitwise CEO Hunter Horsley confirmed the launch plan in a statement to The Block. The registration positions Bitwise to offer investors a spot ETF fully backed by NEAR tokens, tracking live market prices. The statutory trust model ensures flexible custody arrangements and pre-defined investor protections under Delaware trust law.
Bitwise’s Broader ETF Strategy
The announcement of the Bitwise NEAR ETF marks a new strategic milestone, focusing on NEAR’s AI and scalability positioning. According to a report by The Block, the trust structure supports direct asset holding while aiming to integrate familiar SEC-compliant custody frameworks. Bitwise’s prior trusts for Dogecoin and Aptos suggest a similar operational blueprint ahead of any public trading.
Taking this further, the NEAR ETF could mirror the success of BITB, Bitwise’s Bitcoin fund that reached $3.6 billion AUM in just over a year. Bitwise’s broader asset management strategy now totals over $5 billion, spanning multiple blockchain ecosystems. The introduction of a NEAR-specific vehicle aligns with growing institutional demand for diversified crypto exposure.
Market Impact and NEAR Price Performance
NEAR Protocol’s native token responded positively, trading at $2.70 with a 5.00% gain during the latest 24-hour session. CoinMarketCap data showed NEAR holding a $3.26 billion market cap, supported by $194.53 million in daily volume. The asset’s fully diluted valuation reached $3.37 billion, reinforcing market strength around the ETF news.
In response to this, NEAR displayed strong intraday performance, recovering quickly from minor declines and posting higher highs throughout trading sessions. Bullish momentum continued to build with a 5.95% volume-to-market cap ratio, suggesting robust investor participation. Market observers view the move as validation of NEAR’s evolving role in blockchain finance innovation.
