NEAR ETF: Bitwise Achieves Major Milestone with Delaware Registration
The post NEAR ETF: Bitwise Achieves Major Milestone with Delaware Registration appeared on BitcoinEthereumNews.com.
In a development signaling potential new avenues for investors seeking exposure to the digital asset space, Bitwise Asset Management has taken a notable step regarding the NEAR Protocol. Bitwise, a prominent cryptocurrency asset management company, has officially completed the registration of a NEAR exchange-traded fund (ETF) in the state of Delaware. This move, initially brought to light by Unfolded on X, marks a significant administrative milestone in the lengthy process of bringing a crypto-linked investment product to market. What is the Significance of the Bitwise NEAR ETF Registration? For many in the cryptocurrency community and traditional finance alike, the registration of a Bitwise NEAR ETF in Delaware is more than just paperwork; it’s a signal of intent. Delaware is a common jurisdiction for business and fund registrations in the United States, often serving as an initial legal step for entities planning future operations or product launches. While this registration itself does not mean the ETF is approved for trading or that it holds any assets yet, it demonstrates that Bitwise is actively exploring and laying the groundwork for a potential investment product centered around the NEAR Protocol. This action follows a broader trend of asset management firms seeking to offer regulated investment vehicles for various cryptocurrencies, aiming to bridge the gap between traditional financial markets and the rapidly evolving digital asset landscape. Bitwise has been at the forefront of this movement, having previously launched other crypto-focused funds and securing approval for a spot Bitcoin ETF. Understanding the NEAR Protocol and Its Potential To appreciate the significance of a potential NEAR ETF, it’s crucial to understand the underlying technology. The NEAR Protocol is a layer-one blockchain designed to be highly scalable and user-friendly. It utilizes a sharding mechanism called ‘Nightshade’ to process transactions in parallel, aiming to achieve high throughput and…
