Bitwise Brings NEAR to Wall Street ETF

Bitwise Asset Management has launched a physically-settled exchange-traded fund (ETF) tracking the performance of NEAR Protocol, making it the first time a major financial institution has brought a decentralized application platform to Wall Street.

The news comes after months of anticipation from the crypto community, with some analysts predicting that the inclusion of NEAR in an ETF would boost its price and increase institutional investment in the asset.

However, as the chart shows, the reaction on the market has been lukewarm so far. The price of NEAR has not seen a significant surge, leaving many to wonder if the launch of the ETF will have a lasting impact on the cryptocurrency's value.