Bitwise's NEAR ETF Wins NYSE Arca Listing Approval Under NRR Ticker
The fund will hold the NEAR token (NEAR) and pursue staking returns while charging a 0.75% management fee. The SEC has not approved or disapproved the securities.
Bitwise's NEAR exchange-traded fund received approval to list on NYSE Arca under the ticker NRR, clearing an exchange-level step for a product designed to provide exposure to NEAR.
The trust intends to hold NEAR and stake 100% of its holdings in an effort to seek additional returns. The fund's prospectus lists a 0.75% management fee.
The listing approval is separate from approval of the securities by the Securities and Exchange Commission. The prospectus states that the SEC has neither approved nor disapproved the offering.
NEAR closed at $4.59 on Sept. 24, up from $4.33 on Sept. 23. The prices reflect daily closes recorded in UTC.
The trust's initial financial statement listed eight shares at $25 each, giving it $200 in net assets as of July 28. The filing did not provide a launch date.
