NEAR Protocol Surges 26% as Bitwise's Proposed ETF Closes in on Trading

The NEAR protocol has seen a significant surge in value over the past week, rising by about 26% to trade near $4.90-$5.00.

This increase is largely attributed to Bitwise's proposed NEAR ETF clearing one of its most important regulatory steps yet.

The SEC declared the fund's registration statement effective on September 24, while Bitwise also filed Form 8-A to register the ETF's shares for exchange trading.

Although this development pushes the fund closer to trading, it is essential not to call it a new SEC 'approval' in the broad sense.