Bitwise Registers 'Bitwise NEAR ETF' in Delaware on April 24 Amid SEC Review Delays

Bitwise Asset Management has registered a new entity, Bitwise NEAR ETF, in Delaware on April 24, marking the first U.S. ETF that tracks the NEAR Protocol's native token, NEAR. The filing, listed under number 10174379, classifies the entity as a corporate trust service.

The NEAR token has seen a 6.5% surge in the last 24 hours and a 26% gain over the past week, now trading at $2.60. NEAR Protocol, which positions itself as 'the blockchain for AI,' holds a market capitalization of approximately $3.14 billion, ranking it as the 34th-largest digital asset.

This move follows a trend of increasing regulatory scrutiny and delays in the approval of other cryptocurrency ETFs. The U.S. Securities and Exchange Commission (SEC) has extended its review periods for several altcoin ETFs, including those proposed by Grayscale for a Polkadot ETF and Canary Capital for an HBAR ETF, with decisions postponed until June 11. Additionally, the SEC has delayed its verdict on Bitwise's proposed dual Bitcoin and Ethereum ETF until June 10.

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