The landscape of investment products continues to evolve, with asset managers increasingly seeking to provide regulated access to a wider array of digital assets. Bitwise Asset Management, an American investment firm, is actively contributing to this trend, having recently submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) centered on the NEAR protocol.
Focus on the NEAR Protocol ETF
According to the S-1 filing lodged with the SEC, the envisioned Bitwise NEAR ETF is structured to hold actual NEAR tokens. The company has clarified that this fund will not involve investments in futures or other derivative financial instruments. Instead, its strategy centers exclusively on the physical asset, with holdings secured through established custodial frameworks.
Bitwise’s Expanding Crypto Product Line
This latest initiative for a NEAR-based product underscores Bitwise’s broader strategic push to offer a diversified suite of cryptocurrency investment vehicles. In recent months, the firm has been proactive in seeking regulatory clearance for several other single-asset ETFs. These efforts encompass applications for funds based on XRP, Solana, and Aptos. Significantly, Bitwise has also signaled a move towards the institutionalization of memecoins by registering for a Dogecoin ETF in January 2025.
Furthermore, earlier in 2025, the SEC authorized a combined Bitwise ETF providing exposure to both Bitcoin and Ethereum, structured with an 83% allocation to Bitcoin and 17% to Ethereum. The company also extended its reach into the European market with the introduction of a Solana Staking ETP (BSOL) in December 2024.
Market Outlook and Institutional Interest
These strategic filings and product launches by Bitwise coincide with an optimistic outlook regarding broader institutional adoption of cryptocurrency assets. Matt Hougan, Bitwise’s Chief Investment Officer, recently shared a projection that by the end of 2025, four major U.S. financial institutions, including prominent names like Morgan Stanley, are anticipated to offer their clientele access to spot Bitcoin ETFs. Such a development is widely expected to catalyze a substantial inflow of capital into cryptocurrency-based investment tools.
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