en.coinotag.com
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Bitwise has filed for the first-ever NEAR ETF in the US, joining its efforts for altcoin ETFs like DOGE and APT.
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NEAR’s price saw a 25% increase recently, though unrelated to the ETF filing, potentially boosting future interest.
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While the ETF could attract attention to NEAR, the growing number of altcoin ETFs may limit its impact due to market saturation.
Bitwise’s recent NEAR ETF filing marks a pivotal moment in crypto investments, potentially driving increased interest in this altcoin amid a saturated market.
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.
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.