Bitwise Files Spot NEAR ETF Application as Altcoin Fund Race Heats Up

By: cryptosheadlines|2025/05/07 20:15:02
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitwise files for a NEAR ETF to offer direct exposure to the NEAR token without derivatives.The NEAR ETF will track the CF NEAR-Dollar benchmark with Coinbase Custody as custodian.Bitwise expands its crypto ETF portfolio following growing demand for altcoin exposure.Bitwise Asset Management has officially filed for a spot NEAR ETF with the U.S. Securities and Exchange Commission. The move came through a Form S-1 filing submitted on May 6. The proposed exchange-traded fund aims to offer direct price exposure to the NEAR token. Bitwise Files for Spot NEAR ETF, Joining Altcoin ETF RaceSEC Filing: Bitwise submitted an S-1 registration on May 6 for a spot NEAR ETF, aiming to track the token’s price movements.Custodian & Details: Coinbase Custody will hold NEAR assets. Management fee, ticker, and...— Bitcoin Weirdo (@Bitcoin_Weirdo) May 7, 2025The fund plans to hold actual NEAR tokens in custody, instead of using futures or derivatives. NEAR is the native token of Near Protocol, a layer-1 blockchain launched in 2020. The blockchain is known for its scalable and energy-efficient proof-of-stake mechanism.ETF to Track NEAR-Dollar BenchmarkBitwise’s NEAR ETF will follow the CF NEAR-Dollar Settlement Price benchmark. CF Benchmarks, a regulated index provider, calculates the benchmark. Coinbase Custody Trust Company will serve as the custodian for the NEAR tokens held by the fund.The ETF is structured as a Delaware statutory trust. Shares issued by the fund will represent fractional ownership of the NEAR tokens. Bitwise had registered this trust in Delaware on April 28, marking a preparatory step.Bitwise will not employ derivatives or any active trading strategy in this fund. It will handle all creation and redemption of shares in cash. Only authorized financial institutions will carry out these transactions.Regulatory Review Yet to BeginTo advance the ETF application, Bitwise must still file a 19b-4 form. This document formally starts the SEC’s review process. The current filing does not specify the ETF’s ticker symbol or its target exchange.The NEAR ETF joins a rising wave of altcoin-based ETF proposals submitted in 2025. Other applications cover assets like Solana, Cardano, Chainlink, Dogecoin, Hedera, and Avalanche. All are awaiting regulatory review.Bitwise Expands Digital Asset ETF OfferingsBitwise has already filed for spot ETFs tied to Dogecoin and Solana. It also manages spot Bitcoin and Ethereum ETFs listed on NYSE Arca. These funds have collectively seen over $2.3 billion in inflows since their launch.The surge in filings follows a period of regulatory uncertainty. The SEC recently delayed decisions on several other ETF applications. This includes Bitwise’s own Bitcoin-Ethereum fund and Canary Capital’s Hedera ETF. Decisions have now been pushed to June.Paul Atkins, known for a crypto-friendly stance, replaced Gary Gensler as SEC chair. Despite the leadership change, the agency has yet to approve any major new crypto ETFs in 2025. Industry observers continue to monitor for shifts in regulatory direction.Source link

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WEEX P2P update: Country/region restrictions for ad posting

To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.

 

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

 

II. Applicable scenarios

The following are some common scenarios:

Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.

 

III. How to get started

On the ad posting page, find "Trading requirements":

Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.

 

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.

 

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

 

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

 

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.

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