• Following the announcement, NEAR’s price rose by approximately 4%
• To launch the ETF, Bitwise needs to file a formal application with the SEC
• Delaware is a popular state for business registrations due to its business-friendly laws and tax advantages

Bitwise, a major crypto asset manager, registered a NEAR ETF in Delaware, signaling potential mainstream adoption of the NEAR Protocol, which is a Layer 1 blockchain focused on scalability and user-friendly decentralized applications (dApps).

News of the Delaware registration gave NEAR’s price a slight boost. NEAR’s price rose by approximately 4%, reaching slightly above $2.600. The NEAR Protocol is backed by the NEAR Foundation and has a history of big ecosystem funding. For instance, $800 million was allocated in 2021 to support growth, highlighting the ambition to compete with blockchains like Ethereum.

For Bitwise, this is just an administrative step (first of many) that sets the groundwork for a potential ETF. To actually launch the ETF, Bitwise needs to file a formal application with the SEC, which would include information about the ETF, its investment objectives, fee structure, risks, and how it will tra…

The post Asset Manager Bitwise Explores NEAR ETF with New Delaware Registration appeared first on Coin Edition.

• Following the announcement, NEAR’s price rose by approximately 4%
• To launch the ETF, Bitwise needs to file a formal application with the SEC
• Delaware is a popular state for business registrations due to its business-friendly laws and tax advantages

Bitwise, a major crypto asset manager, registered a NEAR ETF in Delaware, signaling potential mainstream adoption of the NEAR Protocol, which is a Layer 1 blockchain focused on scalability and user-friendly decentralized applications (dApps).

News of the Delaware registration gave NEAR’s price a slight boost. NEAR’s price rose by approximately 4%, reaching slightly above $2.600. The NEAR Protocol is backed by the NEAR Foundation and has a history of big ecosystem funding. For instance, $800 million was allocated in 2021 to support growth, highlighting the ambition to compete with blockchains like Ethereum.

For Bitwise, this is just an administrative step (first of many) that sets the groundwork for a potential ETF. To actually launch the ETF, Bitwise needs to file a formal application with the SEC, which would include information about the ETF, its investment objectives, fee structure, risks, and how it will tra…

The post Asset Manager Bitwise Explores NEAR ETF with New Delaware Registration appeared first on Coin Edition.