Digital asset manager Bitwise has filed to list a spot Near exchange-traded fund with the US Securities and Exchange Commission, adding to a growing list of altcoins currently vying to win regulatory approval.
The Bitwise Near (NEAR) ETF will track the price movements of the NEAR token, minus expenses, through a traditional brokerage, Bitwise’s May 6 registration statement shows.
Bitwise named Coinbase Custody as the proposed custodian of the Bitwise NEAR ETF. The management fee, ticker and stock exchange it seeks to list on weren’t named yet.
Source: Cointelegraph
Bitwise must also file a 19b-4 filing with the SEC to kickstart the regulator’s approval process for the fund. The crypto native asset manager indicated it would make such a filing when it registered a trust linked to the NEAR ETF in Delaware on April