In shocking-but-not-so-shocking news, Bitwise (yes, them again—San Francisco’s answer to “how much crypto can a person possibly have?”) has flung a shiny new filing at the SEC. The goal? To unleash the first-ever NEAR ETF upon the world on May 6, 2025. Put it in your diaries, pour yourself a gin, and pretend you understand ETFs.
They’ve called it the “Bitwise NEAR ETF” because, apparently, all the good names went to meme coins. As expected, Bitwise Investment Advisers, LLC are listed as the proud ~parents~ sponsors of this little financial bundle of joy. Still headquartered in San Francisco, as if the foggy air makes spreadsheets more exciting.
Not content with just popping a letter in the SEC’s inbox, Bitwise also set up a Delaware entity with about as much subtlety as a New Year’s Eve confetti cannon. File number 10174379, if you fancy a bit of bedtime reading. This is their grand first step to serving up a spot ETF that, allegedly, tracks the price of NEAR. For those of you with better things to do than monitor blockchains: NEAR is both a crypto coin and the thing your tech-obsessed mate won’t stop talking about.
Bitwise’s ambitions are by now bigger than their backlog of unreturned emails. They’ve already whipped out crypto ETFs for the likes of Bitcoin, Ethereum, and Solana. Because why stop at the classics when you can have the buffet?
After all that excitement, NEAR Protocol’s price looked positively unfazed at $6.79 on Tuesday, May 6, which is either a great deal or absolute chaos, depending on who you ask. Financial markets are cool, calm, and collected—just like anyone who’s never actually invested in one.
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2025-05-06 23:15