Bitwise has officially filed an S-1 form to launch a spot exchange-traded fund that will track the performance of NEAR Protocol (NEAR).
The trust will offer direct exposure to the 33rd biggest cryptocurrency by market cap.
The recent development does not come as a surprise, given that the firm filed paperwork in Delaware for the product last month.
The NEAR price is down 1.12% over the past 24 hours, according to CoinMarketCap data.
NEAR is the latest cryptocurrency to join the spot ETF race in the U.S. There are existing filings for a slew of other tokens, with XRP and Solana (SOL) currently being in the lead.
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