NEAR ETF Shenanigans: Bitwise’s Delaware Trust Comedy Begins!

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Ah! Behold the enterprising Bitwise, that crafty steward of crypto treasure, who hath taken the first daring stride upon the stage—filing papers most official to birth a NEAR Protocol-themed ETF under the watchful eye of Delaware’s statutory trust. A début that promises laughter, intrigue, and perhaps a dash of regulatory torment! 🎭

Bitwise’s Trusty Delaware Farce: A Comedy in One Filing

On the 24th day of April, in the year of our confusion 2025, Bitwise did register its noble NEAR ETF guise as a Delaware statutory trust, bearing the proud file number 10174379—like a ticket to the grand crypto carnival. This entity, graciously signed by CSC Delaware Trust Company, calls Wilmington its humble abode. As all wise jesters know, Delaware trusts are the favored masks for ETFs, offering legal sorcery and tax enchantments whilst awaiting the federal overlords’ nod.

Yet, before this glittering puppet show can commence in earnest, Bitwise must perform its ritual before the U.S. Securities and Exchange Commission (SEC)—an assembly as fickle as a jester’s cap. Custody tales, market watchfulness, and investor shields must be laid bare, though one should not hold their breath; approval, dear spectator, may take moons, or even years, and that’s if the dragons of bureaucracy deign to smile.

This filing waltzes in step with many a crypto troupe, eager to parade ETFs flaunting not only bitcoin and ethereum but also the motley crew of coins like SOL, LTC, HBAR, ADA, and that slippery rascal XRP. These hopefuls await the SEC’s blessing amidst a regulatory landscape ever shifting under the Trumpian sun.

Fear not, for Bitwise is no greenhorn; already it juggles spot bitcoin and ether ETFs with a flair befitting a circus master. The NEAR Protocol, a blockchain of layer one grandeur and decentralized whimsy, boasts a kingdom valued near three billion crowns ($3.1 billion, should you prefer mundane coin).

Delaware’s open arms remain irresistible, prized for swift trust-births. Yet, the SEC’s gaze upon non-bitcoin and non-ether ETF jesters has long been cold, with the venerable Gary Gensler—and his stern lectures on compliance—as a formidable gatekeeper scarce given to mirth.

But hark! The tides may turn under new governance—a comedic twist indeed—where SEC’s chair, Paul Atkins, steps forth, promising new scripts and precedents that could herald a golden age for crypto-fund theatrics. Shall our players win acclaim, or be sent offstage? Stay tuned, dear audience! 🎩✨

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2025-04-25 20:30