NEAR ETF Approved
NYSE Arca Approves Bitwise NEAR Protocol ETF for Listing and Trading
Anonymous
NYSE Arca has approved Bitwise’s NEAR Protocol ETF to list and trade under the ticker NRR, though trading has not begun and a launch is still pending additional filings. The fund charges a 0.75% annual fee and intends to stake all of its NEAR holdings; the prospectus says staking expenses will take 33% of generated rewards. NEAR rose about 20% in 24 hours to around $5, extending a rally of roughly 36% over the prior week. Futures open interest climbed nearly 15% to about $1.49 billion, even as reported trading volume fell.
Key Points
1
Bitwise Asset Management previously funded eight shares at $25 each, totaling $200; Bitwise Investment Manager is expected to purchase another 20,000 initial shares for $500,000.
2
Near Protocol’s total value locked had climbed above $210 million alongside the token’s rally.
3
Bloomingbit reported NEAR at $4.95, up 18.63% from the prior day, as of 7:40 p.m., citing CoinMarketCap.
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