Bitwise Files NEAR ETF as Bloomberg Predicts HBAR XRP ADA ETF New Approval Rates AllinCrypto May 7, 2025
Bitwise has filed for a NEAR spot ETF with the US Securities and Exchange Commission, as reported by a May 6 S-1 filing.
The ETF will allow investors to buy spot NEAR tokens, exposing them to the ecosystem of NEAR Protocol and its AI developments.
The news comes after Bloomberg analysts predict that most altcoins ETFs have 75%+ chances of gaining approvals in 2025.
NEAR Protocol gains ETF filing from Bitwise Investments
NEAR Protocol is a layer 1 network powered by its native NEAR token. The network is known for its autonomous AI developments and web3 builder community.
The network was launched to try and solve the blockchain trilemma, creating a network where security, scalability, and decentralization are all achieved.
Bitwise’s exchange-traded fund would track the CF NEAR-Dollar Settlement Price benchmark and utilize Coinbase Custody Trust as custodian.
The investment firm registered a Delaware statutory trust for NEAR on April 28, 2025, with the ETFs shares representing fractional ownership.
The next step of the filing will be for Bitwise to file its 19b-4 form to begin the SEC’s review of the ETF. Over the last 7 days, the NEAR token has fallen 6% to $2.34, down from recent highs of $2.62.
Altcoin ETFs to come in 2025 according to Bloomberg analysts
Altcoin ETFs are all the range this year as Greyscale, Bitwise, Canary Capital, and many more file altcoin funds to the SEC.
Before Winter 2025, at least 8 altcoins will be awaiting approvals. Dogecoin, Hedera Hashgraph, Avalanche, Ripple’s XRP, and Cardano are due for final SEC deadlines before December 2025.
According to Bloomberg ETF analyst Eric Balchunas, Avalanche has a 75% chance of approval, followed by Hedera HBAR with an 80%. XRP has an 85% chance of approval, while Solana and Litecoin have a 90% chance of approval in 2025.
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