BREAKING: Bitwise Amends Near ETF Filing, Adds Staking, NYSE Arca Listing, & Key Details

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Bitwise Amends Near ETF Filing, Adds Staking, NYSE Arca Listing, & Key Details

Highlights

Bitwise updated its S-1 for spot NEAR ETF with the US SEC.
The issuer added staking as secondary investment objective and named NYSE Arca as listing exchange.
Bitwise NEAR ETF also revealed cash custodian, risks, and other key details.
NEAR price has surged more than 5% amid AI interest and broader crypto market recovery.

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Crypto asset manager Bitwise has updated its filing for the proposed NEAR ETF, advancing progress after almost a year. The issuer revealed key details related to staking, listing exchange, listing plans, custodians and others. NEAR price has jumped almost 12% amid the latest crypto market recovery.

Bitwise NEAR ETF Updates Filing with the US SEC

Bitwise submitted a 2nd amendment to the S-1 form for its spot NEAR ETF, according to the latest filing with the US SEC. It added staking as a second objective to derive additional income for investors, along with providing regulated exposure to NEAR held by the trust.

Bitwise NEAR ETF also named NYSE Arca as the selected exchange for listing and trading the spot ETF. The issuer has not yet revealed management fees, ticker, or potential fee waiver.

Moreover, The Bank of New York Mellon is selected as cash custodian, administrator, and transfer agent. Coinbase Custody to serve as crypto custodian.

Bitwise Asset Management, parent of Bitwise Investment Advisers, plans to provide seed capital to launch the NEAR ETF. The issuer currently awaits approval from the US SEC.

The amendment refines disclosures around risks, including staking-related tax events, redemption liquidity, and market volatility.

As CoinGape reported earlier, Grayscale also amended its NEAR ETF filing with the US SEC. This came amid institutional interest in artificial intelligence (AI) amid the blockbuster SpaceX IPO frenzy.

Will Price Rally Further?

NEAR Protocol price rebounded 5% amid the latest crypto market recovery. The price is currently trading at $2.03, with a 24-hour low and high of $1.90 and $2.04, respectively.

Furthermore, trading volume has increased by 6% over the last 24 hours, indicating a rise in interest among traders. However, the price is trading below the 50-day moving average. Notably, Kalshi also launched NEAR perpetual futures recently amid massive interest from investors.

CoinGlass data showed massive buying in the derivatives market in the last few hours. The total NEAR Protocol futures open interest jumped more than 13% to $472 million in the last 24 hours. The 4-hour futures OI on Binance, OKX, and Bybit climbed more than 6%, 5%, 5.50% respectively.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.