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Big news is circulating in the cryptocurrency world! Asset management firm Bitwise has taken a significant step towards bringing NEAR Protocol into the mainstream financial landscape by filing an application for a spot NEAR ETF with the U.S. Securities and Exchange Commission (SEC). This development, initially reported by Bloomberg analyst James Seyffart on X (formerly Twitter), marks a notable moment for the NEAR ecosystem and the broader digital asset market. While the path to approval is often lengthy and complex, the filing itself signals growing interest from established financial players in offering regulated investment products tied to specific cryptocurrencies beyond Bitcoin and Ethereum. When Bitwise files an S-1 application with the SEC, it’s essentially submitting a registration statement for a new security – in this case, shares of a proposed exchange-traded fund that would hold NEAR tokens directly. This is the initial formal step in the process for seeking regulatory approval to list and trade the fund on a national securities exchange. Here’s a breakdown of what this entails: This move by Bitwise, a firm already active in the crypto fund space, underscores the increasing demand for regulated and accessible ways to invest in digital assets like NEAR. The potential launch of a spot NEAR Protocol ETF is significant for several reasons, primarily revolving around bridging the gap between traditional finance and the crypto market: Benefits for Investors and the Market: Potential Challenges and Considerations: The filing for a Bitwise NEAR ETF joins a growing list of applications for single-asset crypto ETFs, following similar efforts for cryptocurrencies like Bitcoin, Ethereum, and Solana. This trend suggests a broader push within the asset management industry to offer diverse regulated crypto exposure. The filing for a NEAR Protocol ETF comes after significant developments in the broader Crypto ETF landscape, particularly the approval and successful launch of spot Bitcoin ETFs in the U.S. earlier this year. The SEC’s approval of Bitcoin ETFs set a precedent and demonstrated a potential shift in regulatory comfort with spot crypto products. Here’s a brief comparison: While the Bitcoin ETF approvals provide a hopeful backdrop, the SEC’s approach to approving ETFs for other cryptocurrencies is not guaranteed and will likely involve careful consideration of each asset’s market structure, regulatory status, and potential for manipulation. The S-1 filing is just the beginning. The application will now go through a formal review process with the SEC. This process typically involves: The outcome of this application will be closely watched by the crypto community and traditional finance alike. An approval would not only be a significant win for NEAR Protocol but could also pave the way for ETFs tracking other individual cryptocurrencies, further integrating the digital asset market into traditional investment vehicles. For those interested in NEAR Protocol or the broader crypto market, this filing offers several key takeaways: The filing by Bitwise is a strong signal of increasing institutional interest in NEAR Protocol. It represents a potential future avenue for investors to access NEAR through a familiar and regulated wrapper. Bitwise’s S-1 filing for a spot NEAR ETF is undoubtedly a significant and exciting development for the NEAR Protocol ecosystem and the broader cryptocurrency investment landscape. While the regulatory path ahead involves hurdles and no outcome is guaranteed, this formal step by a reputable asset manager like Bitwise highlights the growing maturation of the crypto market and the increasing demand for regulated investment products. The potential approval of a SEC NEAR ETF could unlock new avenues for institutional and retail investors alike, potentially increasing liquidity and adoption for NEAR. As the SEC reviews the application, the market will be watching closely to see if NEAR will be the next cryptocurrency to gain a regulated ETF vehicle in the United States. To learn more about the latest Altcoin trends, explore our article on key developments shaping NEAR Protocol institutional adoption. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Bitcoin Core developers have confirmed that the next software release will lift the long-standing 80-byte restriction on OP_RETURN transaction outputs. The decision was met with concern in the crypto space as users expressed dissatisfaction with the move. The information was relayed in a May 5 GitHub announcement by Bitcoin developer Gregory Sanders, which read: “Bitcoin Core’s next release will, by default, relay and mine transactions whose OP_RETURN outputs exceed 80 bytes and allow any number of these outputs.” Sanders explained that the 80-byte limit was originally a “gentle signal that block space should be used sparingly for non-payment proof of publication data,” but that it has now outlived its usefulness. OP_RETURN is a type of Bitcoin transaction output that allows small amounts of data to be stored on the blockchain. Unlike regular outputs, they are unspendable and therefore don’t contribute to unspent transaction outputs (UTXOs). Developers noted that many private mining accelerators already ignore the limit, and users often find workarounds. Instead of stopping misuse, they have started embedding data in more complex ways, such as crafting fake output public keys or using spendable scripts to hide data. This makes the network harder to manage and less efficient. Some proposed introducing blacklists to stop these tricks, but the developers rejected that idea. They argued that blacklists are unreliable, hard to maintain, and could even lead to innocent people losing funds. Sanders also clarified that removing the restriction doesn’t weaken Bitcoin’s security. Rules like the 4 million weight unit block limit and other safeguards remain in place. However, the change brings some improvements, such as a cleaner UTXO set and more consistent behavior across the network. He explained that developers considered three options before reaching a decision: keeping the cap, raising it, or removing it entirely. According to him, the third option received “broad, though not unanimous support.” The announcement has started a debate in the crypto community. Bitcoin Knots maintainer Luke Dashjr described the removal as “utter insanity.” Bitcoiner Samson Mow said on X on May 5 that users “can refuse to upgrade and stay on 29.0 or run another implementation,” referring to Knots. Critics also argued that the proposal was introduced without a proper decision-making process. “I think one thing is pretty clear: there is no consensus at the moment on this OP_RETURN issue,” said Ten31 Fund managing partner Marty Bent. Meanwhile, Sanders has defended the removal of the cap as aligned with Bitcoin’s ethos of “minimal and transparent rules.” Despite these assurances, the community still doesn’t agree. “This marks a fundamental shift in the direction of Bitcoin,” one commenter warned on GitHub. “This is the largest mistake Core can make at this juncture,” another added.

Space and Time Airdrop Query is now open

Space and Time airdrop is now open for enquiries Space and Time posted on the X platform announcing that the airdrop query is now online, "Gigaclaim 0 will provide eligible community members with the opportunity to claim up to 375 million SXT, and the claim activity will start on May 8th."

Chainlink launches its Rewards program with SXT airdrops to incentivize LINK stakers, marking a key step in ecosystem engagement. Despite recent price dips, LINK shows resilience with long-term growth potential supported by whale accumulation and strategic partnerships. According to Chainlink recent status, a new era for LINK stakers as its latest initiative aimed at rewarding its dedicated community. The introduction of the Chainlink Rewards program, in collaboration with Space and Time ( SXT ), marks a significant step in incentivizing participation within the ecosystem. Starting May 8, 2025, Chainlink will roll out its Rewards program. This distribution represents the first phase, dubbed “Season Genesis,” of a broader plan to allocate 200 million SXT tokens —4% of Space and Time’s total supply—over time, as described in a post by PR Newswire. Chainlink Rewards represents the next evolution of the Build program, bringing together Build projects—ready to expand their communities and create global awareness for their products—and Chainlink ecosystem participants, eligible community and node operator stakers, who are committed to supporting and securing the Chainlink Network and include some of the most active and engaged participants in the blockchain ecosystem. According to reports, the claim window for this initial airdrop will remain open for 90 days, providing ample opportunity for eligible participants to claim their rewards. However, as the allocation is designed to recognize both the amount of LINK staked and the duration of staking, ensuring a fair distribution among contributors. Space and Time, the inaugural participant in the Chainlink Build program , has been at the forefront of integrating zero-knowledge proofs to deliver verifiable data analytics to smart contracts. Their collaboration with Chainlink, particularly through the integration of Chainlink Functions in 2024, underscores a commitment to advancing decentralized data solutions. Despite the fact that Chainlink jumped 25% as key whales accumulated record 438M LINK as per last March CNF update , current LINK price is concerning. However, analysts remain optimistic about LINK’s trajectory, with projections suggesting a potential rise to $15, contingent on broader market movements and continued ecosystem developments. In hope, the launch of the Chainlink Rewards program signifies a strategic effort to deepen community engagement and reward long-term participation. At the time of writing, Chainlink (LINK) is trading at the price of $13.42, reflecting a slight decrease of 1.62% in the past day and 10.07% in the past week. Despite this short-term dip, LINK has experienced a 5.4% increase over the past month, indicating a resilient upward trend. See LINK price chart below.