Bitwise Files Application to List a NEAR ETF
Digital asset manager Bitwise has filed with the SEC to list a spot Near exchange-traded fund (ETF), joining a growing number of altcoins seeking regulatory approval. Bitwise's Near ETF aims to track NEAR token price movements, minus expenses, through a traditional broker-dealer, as noted in Bitwise's May 6 registration statement. Coinbase Custody is proposed to serve as custodian for Bitwise's NEAR ETF. However, details such as the management fee, ticker and the exchange on which it will be listed have not yet been disclosed. Bitwise must also file a 19b-4 application to initiate the SEC approval process for the fund. The company indicated it would make this filing after registering a trust linked to the NEAR ETF in Delaware on April 28.