Bitwise Asset Management officially submitted an S-1 registration declaration to Form S-1 to the American Securities and Exchange (SEC) commission to launch the Bitwise fund on the BANNE (ETF) fund.
The deposit follows the previous decision of Bitwise on April 24, 2025, when the company recorded a trust entity for the Bitwise near ETF in Delaware. The S-1 marks the next natural step in the process.
Close to reach the Altcoin ETF race with a bit deposit
The proposed ETF aims to follow the value closely, the native token of the nearby protocol. It is a layer 1 blockchain focused on scalability and decentralized applications.
The deposit has not specified the exact exchange where the ETF will be listed or the tickle symbol it will use. Coinbase Pustody Trust Company, LLC will serve as a guard. He will be responsible for the safeguarding of the nearby trust, the management of the account close to the trust and the facilitation required near transfers.
“The investment objective of the trust is to seek to give exposure to the value of almost owned by the trust, the less the expenses of the operations and other responsibilities of the trust. [CF NEAR-Dollar Settlement Price] (The “pricing reference”) “reads the S-1.
In particular, this decision did not have an impact on the Narch price. During the last day, cryptocurrency experienced a modest drop of 0.8%. At the time of the press, he exchanged $ 2.3.
Beincryptto data show that near is the 44th largest cryptocurrency, with a market capitalization of $ 2.8 billion.
Nearly joins the growing list of Bitwise of ETF Altcoin Applications. The company already offers ETF linked to large cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). He also seeks the approval of the dry for several others, notably Dogecoin (Doge), Solana (soil), XRP (XRP) and Aptos (APT).
“Bitwise betrays on the legitimacy of Altcoin. The exposure to Wall Street to L1 becomes real,” wrote an analyst on X.
Although the sharp increase in documents suggests a wider strategy to extend its Altcoin portfolio, the DRI approval route remains uncertain. The agency recently delayed decisions on several ETF applications of cryptocurrency, including those of XRP and DOGE, with deadlines in mid-June 2025.
This delay model is aligned with the prudent approach to the FNB Crypto FRI beyond Bitcoin and Ethereum, despite a more favorable regulatory climate under the Biden administration, which saw Bitcoin Spot approved in January 2024 and ETHEREUM ETHEREM in July 2024.
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