Bitwise NEAR ETF Clears SEC and NYSE Arca Steps for Launch
The fund is expected to trade under NRR and stake some or all of its NEAR holdings, but no first trading date has been announced.
Bitwise’s NEAR ETF has completed key Securities and Exchange Commission and exchange-listing steps, bringing a new staking-focused crypto fund closer to trading in U.S. brokerage accounts.
The fund’s registration statement became effective Sept. 24, while NYSE Arca approved its application to list the ETF’s common shares. The product is expected to trade under the ticker NRR, although no first trading date has been announced.
The Bitwise NEAR ETF will hold NEAR directly and seek additional tokens through staking. Its filing says the trust will stake some or all of its NEAR holdings, with staking agents operating validators for the staked assets.
The fund’s annual management fee is 0.75% of its NEAR holdings. Coinbase Custody Trust Company will safeguard the assets.
Bitwise seeded the trust with eight shares priced at $25 each, totaling $200, on July 28. A Bitwise affiliate is expected to purchase 20,000 additional seed-basket shares for $500,000 at $25 per share.
The ETF would give U.S. investors brokerage-account exposure to NEAR and a structure designed to pursue staking rewards without requiring them to hold the token directly. The filings do not specify a first trading date.
