Coinbase Custody to Secure Bitwise’s Proposed NEAR ETF as Institutional Interest Grows

Bitwise Asset Management has taken a significant step toward launching a NEAR Protocol-focused ETF, filing an S-1 with the SEC. The proposed Bitwise NEAR ETF aims to track the native token of the NEAR blockchain, with custody services provided by Coinbase Custody. Despite this institutional milestone, NEAR’s market price remained flat, highlighting a potential disconnect between institutional moves and immediate market reactions. This development underscores the growing interest in blockchain-based investment products and Coinbase’s pivotal role in securing digital assets for institutional players.

Bitwise Files S-1 for NEAR ETF Amid Flat Price Reaction

Bitwise Asset Management, overseeing $12 billion in assets, has formally submitted an S-1 application to the SEC for a NEAR Protocol-focused ETF. The proposed Bitwise NEAR ETF would track the native token of the NEAR blockchain, with custody handled by New York-licensed Coinbase Custody.

Despite the institutional milestone, NEAR’s market price showed muted response to the filing. The move signals growing institutional interest in layer-1 blockchain tokens beyond Ethereum, with multiple asset managers now evaluating similar products.

Coinbase CEO Brian Armstrong Secures $130M for Longevity Startup NewLimit

Coinbase CEO Brian Armstrong is charting an unconventional path, balancing advocacy for stablecoin legislation with groundbreaking biotech ventures. His startup NewLimit, co-founded with GV veteran Blake Byers and stem cell researcher Jacob Kimmel, has raised $130 million in Series B funding at an $810 million valuation.

The company focuses on epigenetic reprogramming therapies designed to reverse cellular aging. While most cryptocurrency executives remain fixated on market fluctuations, Armstrong’s dual focus on regulatory engagement and life extension research underscores a broader strategic vision.