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As Bitcoin (BTC) briefly touched $94,959, investor sentiment surged on rumors of a potential trade agreement between the United States and the United Kingdom. With the tariff nightmare of Q1 still fresh, markets are now looking toward regulatory breakthroughs and ETF expansions to fuel the next leg of the bull cycle.
Bitwise Targets NEAR in Latest ETF Filing
In a surprise move, Bitwise Asset Management has filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) based on NEAR Protocol (NEAR). This marks a significant moment for NEAR, a smart contract platform that has quietly rebuilt itself after taking serious damage during the FTX collapse.
While tokens like SOL have seen more dramatic price action, NEAR’s steady growth and ecosystem development have earned it a place among the few altcoins now being considered for institutional-grade investment vehicles.
NEAR Price Reacts Modestly, But Fundamentals Strengthen
Despite the headline, NEAR’s price only increased by around $0.10, reflecting a cautious market response. Key short-term resistance levels now lie at $2.39 and $2.60, and traders will be watching closely to see if the ETF narrative can drive more meaningful momentum.
ETF-related optimism tends to materialize in longer-term price appreciation, especially if the SEC’s overall stance toward crypto softens. With over 70 altcoin-related ETF applications awaiting decisions by November, the final quarter of 2025 could serve as a pivotal inflection point for altcoin markets.
Why This Matters: The Broader Regulatory Picture
The wave of altcoin ETF filings comes amid a potential shift in SEC leadership, encouraging asset managers to pursue approvals ahead of possible regulatory relaxations. If a cluster of approvals emerges in Q4, as many expect, NEAR’s inclusion could bolster its legitimacy among both retail and institutional investors.
Dey There notes that these developments align with broader macro shifts. Tariff relief, a cooling inflation environment, and a dovish Federal Reserve could collectively serve as a perfect storm for a crypto market rally in the second half of the year.
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