Bitwise has updated its proposed spot NEAR exchange-traded fund with a staking feature, according to a revised S-1 filing submitted to the U.S. Securities and Exchange Commission.
The change came as NEAR token rallied nearly 12% and pushed above a downtrend that had been in place for several weeks. The move gave the market a fresh reason to focus on the filing, which now goes beyond a simple spot product and includes the mechanics for staking.
Staking is a central part of the appeal for many proof-of-stake tokens because it can allow holders to earn rewards by helping secure the network. For an ETF sponsor, adding that feature can make the proposed fund more closely resemble the economics of the underlying asset, although the SEC still has to review and approve the filing before anything else happens.
Bitwise’s revised document does not mean the ETF is approved. It does, however, show that the firm is willing to build in more structure around how the fund could handle staking if regulators allow it. That keeps the proposal in step with the broader push by asset managers to make crypto funds more functional, not just passive wrappers around spot exposure.
NEAR’s price action reflected that shift in attention. Breaking above a multi-week downtrend does not erase the recent weakness, but it does mark a cleaner technical picture for traders watching the token and the fund proposal at the same time.
The next clear marker is the SEC review process. Traders will be watching for any further amendments, comments from the regulator, or a fresh timetable from Bitwise, while NEAR’s ability to hold above the breakout level will matter for near-term momentum.
Bitwise adds staking to NEAR token ETF proposal as NEAR price rises nearly 12%
Bitwise updated its proposed NEAR token exchange-traded fund to include staking, allowing holders to earn rewards. This change affects investors interested in NEAR and shows Bitwise’s plan to offer a more active crypto fund, though U.S. regulators still need to approve it.