Bitwise Filed an S-1 Form for NEAR ETF— Yet Near Price See No Pump

Bitwise, one of the largest American fund managers with $ 12 billion in assets managed, has taken a huge step in an almost ETF application. Bitwise has officially has submitted a form S-1 With the US Securities and Exchange Commission (SEC) to launch an almost based ETF.

If approved, this can be an important turning point for the neighborhood, so that the price is pushed to the next level. In the meantime, other gigantic institutions are now also looking for ETF.

Bitwise files for near ETF

On May 6, Bitwise sent a request to the US SEC to launch a new ETF called the Bitwise near ETF. This fund follows the price up close, the native token of the nearby blockchain.

The nearby tokens are held by Coinbase guardianship, a trusted company that keeps digital assets safe. They have a permit in New York and already work with large crypto projects.

If the SEC approves, this would be the first American ETF to be linked to Near, a fast and developer -friendly blockchain. In the meantime, this will be able to invest people in the neighborhood without having to buy or store the token themselves.

More archiving income for almost ETF

Last month, on April 25, Bitwise registered the Bitwise near ETF in Delaware. This is usually the first step before he is submitted to the SEC to launch a real ETF that follows the price of the neighborhood.

Bitwise is not the first to show interest. Grayscale and 21Shares have already made almost investment products for this. But Bitwise jump now can bring more attention, money and new investors in the neighborhood.

Technical indicators show mixed signals

Despite the positive news, the price of the nearby protocol near the price has not yet been strongly responded. From now on it is traded around $ 2.30, which reflects a fall of 1.6% in the last 24 hours.

However, the technical indicators in the short term suggest some caution. The MACD signals Beerarish Momentum, while the RSI is now at 90What suggests that is close to overbough. This setup hints that a price decrease could be close by.

Unless the bulls succeed in defending the most important support at $ 2.10 and pushing back to the $ 2.70 resistance zone.