NEAR Protocol Gains Momentum with Bitwise ETF Registration
In a significant development for the cryptocurrency market, Bitwise Asset Management has officially registered a NEAR Protocol ETF entity in Delaware. This move, reported by multiple sources including cryptopanic.com and www.crypto-news-flash.com , marks a pivotal step towards expanding access to altcoin investments in the United States. Bitwise’s initiative to file for a NEAR ETF is the first of its kind in the country, signaling a growing interest in diversifying crypto investment portfolios beyond the traditional Bitcoin and Ethereum offerings.
The registration of the NEAR Protocol ETF by Bitwise comes at a crucial time for the cryptocurrency, which has seen a relatively quiet year in 2025. However, the recent developments have sparked a notable increase in NEAR’s price, with the asset experiencing a surge following the ETF filing announcement. This price rally is indicative of the market’s positive reception to the potential for increased liquidity and accessibility that an ETF could bring to NEAR Protocol.
Market Implications and Future Outlook
The move by Bitwise to register a NEAR Protocol ETF is not just a testament to the growing acceptance of cryptocurrencies in mainstream financial markets but also highlights the potential for altcoins like NEAR to gain a foothold in the investment landscape. With a market cap of approximately $3.14 billion as of April 24, 2025, and a close price of $2.61578, NEAR Protocol is positioned to capitalize on this momentum. The 52-week high of $8.50791 and a low of $1.82408 reflect the volatility inherent in the crypto market, yet the recent developments suggest a possible breakout for NEAR.
Competitive Landscape
As NEAR Protocol gains attention, it’s worth noting the competitive landscape within the cryptocurrency space. Cardano (ADA) and its rivals, including Avalanche, Solana, Polkadot, and Algorand, are also vying for market share amidst Ethereum’s scalability challenges. Cardano’s recent performance, with a weekly gain of 12.2% and a closing above $0.70, underscores the dynamic nature of the market and the opportunities for altcoins to emerge as viable alternatives to Ethereum.
Conclusion
The registration of a NEAR Protocol ETF by Bitwise Asset Management marks a significant milestone for the cryptocurrency and its investors. As the market anticipates the implications of this development on NEAR’s value and liquidity, the broader crypto community watches closely. This move not only enhances NEAR’s visibility but also contributes to the ongoing narrative of cryptocurrencies’ integration into mainstream financial systems. With the potential for increased accessibility and investment, NEAR Protocol is poised for a promising future in the evolving landscape of digital assets.