Bitwise has advanced its proposed spot NEAR exchange-traded fund by submitting a second amended S-1 registration statement to the U.S. Securities and Exchange Commission.
The updated filing introduces staking as a secondary objective, potentially allowing the fund to generate additional blockchain rewards alongside tracking NEAR’s market value. Moreover, the revision provides greater operational clarity as digital asset investment products continue attracting institutional attention.
Bitwise Expands ETF Structure
The revised filing identifies NYSE Arca as the intended exchange for listing and trading the proposed fund. Additionally, The Bank of New York Mellon will oversee cash custody, administration, and transfer agency services.
Coinbase Custody will safeguard the ETF’s NEAR holdings. Besides, Bitwise expanded disclosures covering staking taxation, redemption liquidity, and cryptocurrency market risks.
However, the company still has not revealed the fund’s ticker symbol or management fee. Consequently, the proposal remains under SEC review before any launch can proceed.
NEAR Price Gains Momentum
NEAR traded near $2.02 after climbing about 5% over the past 24 hours. Besides, the token has advanced nearly 13% during the last week, supported by strong trading activity exceeding $256 million.
Meanwhile, analyst SUNCOAST reported that NEAR has broken above a falling wedge formation after defending support between $1.80 and $1.90. Consequently, the analyst believes sustained buying could drive the token toward the $3.16 level and potentially extend the broader recovery.
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