While the market has seen significant interest in Bitcoin and Ethereum ETFs, Bitwise's filing signals a growing appetite for investment vehicles tied to other prominent cryptocurrencies. This expansion reflects the increasing maturity of the digital asset market.
The Near Protocol is a layer-one blockchain platform that has been gaining traction for its developer-friendly environment and scalable infrastructure. A spot ETF could provide traditional investors with easier access to NEAR and further fuel the growth of its ecosystem.
Bitwise's application adds to the growing list of asset managers seeking to launch altcoin ETFs. As regulatory clarity evolves, the competition to provide these investment products is expected to intensify, offering investors a wider range of choices.