Bitwise Asset Management has officially submitted S-1 registration statements to Securities and Exchange Commission (Securities and Exchange Commission) and started the Bitwise Near Exchange-Traded Fund (ETF).
This submission will follow the initial measures of Bitwise on April 24, 2025. S-1 marks the next step in the process.
Nearby joins the Bitwise submission to the Altcoin ETF race
The proposed ETF aims to track the value of Near, the default token of nearby protocols. Layer -1 block chain focused on extensions and distributed applications.
The documents did not specify the exact exchange or the price symbol to be used for the ETF to be listed. Coinbase Cultody Trust Company, LLC will work as a manager. Protect the trust range, manage the close account of the trust, and promote the need for nearby.
“The investment goal of the trust is that the value of the value, trust operation, and other debt will be reduced by the trust. To achieve the investment goal, the trust will establish a net asset value (“ NAV ”) by referring to (consensus price near CF) (“ price benchmark ”).
In particular, the movement did not affect the close price. Last day, Cryptocurrency experienced a slow reduction of 0.8%. It was traded for $ 2.3 in the prestime time.
According to Beincrypto data, the nearby 44th Crypto Money has a market cap of $ 2.8 billion.
We have joined Bitwise’s Altcoin ETF application list. The company already provides ETFs related to major cryptocurrencies, such as Bitcoin (BTC) and Etherrium (ETH). In addition, there are several additional SEC approval, including Dogecoin (Doge), Solana (SOL), XRP (XRP) and APTOS (APT).
Analyst said, “Bitwise bets on Altcoin’s legitimacy. Wall streets for L1S are becoming a reality.
The surge in documents suggests a wider strategy for expanding the portfolio to Altcoins, but the path of SEC approval is still uncertain. The agency recently delayed the decision on several Cryptocurrency ETF applications, including the application of XRP and DOGE, and the deadline was promoted until mid -June 2025.
This delay pattern is consistent with SEC’s prudent approach to Crypto ETF beyond Bitcoin and Etherrium despite the more favorable regulatory climate under the BIDEN administration.
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