PANews reported on May 7 that according to Cointelegraph, crypto asset management company Bitwise has submitted an S-1 document to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of a spot ETF that tracks NEAR tokens. The fund will be managed by Coinbase Custody, and the ETF's trading code, management fee rate, and listing exchange have not yet been disclosed. Bitwise registered the NEAR Trust in Delaware on April 28 and plans to submit a 19b-4 document to formally start the approval process.