From Yahoo Finance: 2025-05-07 18:00:00

Bitwise plans to launch an ETF tracking NEAR, the token of the NEAR protocol, pending SEC approval. NEAR is a competitor of Ethereum, with a market cap of $2.7 billion. Asset managers seek approval for altcoin ETFs, but SEC responses may take months.

The SEC has become more crypto-friendly, approving Bitcoin and Ether spot ETFs. However, approval doesn’t guarantee token price increases or ETF asset growth. The market size of altcoins is significantly smaller than Bitcoin and Ethereum, raising questions about potential success.

Read more: Bitwise Seeks SEC Approval to Launch Spot NEAR ETF