Bitwise has updated its spot NEAR ETF application with the SEC to include a staking feature, a move that immediately propelled NEAR's price up nearly 12% and broke its multi-week downtrend. This development signals a growing institutional interest in offering yield-generating crypto products, potentially broadening the appeal of altcoin ETFs beyond just price exposure. The inclusion of staking could set a precedent for future altcoin spot ETF filings, making them more attractive to investors. What to watch next is the SEC's response and whether other asset managers follow suit with similar staking provisions in their applications.
The inclusion of staking in Bitwise's NEAR ETF filing validates a key yield-generating component of crypto assets for institutional products. This could unlock significant capital flows into altcoins by making them more palatable to traditional investors seeking both capital appreciation and yield.
This event highlights the increasing sophistication of institutional crypto product offerings, moving beyond simple spot exposure to include yield generation. It signals a maturing market where traditional finance is adapting to crypto's unique features, which will accelerate altcoin adoption.
Bitwise has strengthened its proposed spot NEAR ETF with a staking feature in a new SEC filing, helping drive NEAR nearly 12% higher as the token broke above a multi-week downtrend. According to a revised S-1 registration statement submitted to…