Bitwise continues to push for Altcoin ETF with NEAR filing

Bitwise has just submitted an application for a NEAR ETF, marking the first such application in the United States. Over the past few weeks, the company has been working to create several new altcoin ETF products based on DOGE, APT, and other types.

NEAR itself has been quite quiet in 2025, but this application could attract more attention to the project.

Bitwise attempts to create NEAR ETF

Currently, there is a wave of ETF applications pending in the US, and Bitwise is leading some of them. In addition to more mainstream ideas like an XRP ETF or a BTC/ETH combined product, the company also has a few unique initiatives.

Today, Bitwise has added another proposal to this diverse list, filing for the creation of an ETF based on NEAR.

Currently, this application is very rudimentary and the public has very little information. If Bitwise or the SEC fully discloses the application in the future, it may help clarify some questions.

Currently, it is safe to assume that the NEAR ETF is similar to Bitwise’s recent altcoin efforts.

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

This altcoin attracted attention at the end of last year but has had a relatively smaller presence throughout 2025.

Now, as Bitwise wants to create a NEAR ETF, that may attract some attention. The price of the asset has increased; after a drop in mid-April, it has risen over 25% in the past two weeks.

Clearly, these profits are not related to Bitwise’s application, but the ETF effort may help build momentum going forward.

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

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