Bitwise Launches First U.S. Spot NEAR ETP With 0.75% Fee
The Bitwise NEAR ETF, trading as NRR on NYSE Arca, began trading Sept. 29 and plans to stake the NEAR held by the fund.
Bitwise launched the first U.S. spot NEAR exchange-traded product Tuesday, giving investors access to NEAR through the Bitwise NEAR ETF under the ticker NRR on NYSE Arca.
The ETF began trading Sept. 29 and charges a 0.75% management fee. Bitwise plans to stake the NEAR tokens held by the fund, with a target of participating in average staking rewards of about 5%.
NEAR Intents, a transaction protocol tied to the NEAR ecosystem, has processed more than $32 billion in cumulative volume, compared with less than $1 billion a year earlier. NEAR’s market capitalization exceeds $6 billion, while its inflation rate has recently been reduced to 2.5%.
The launch adds NEAR to the U.S. market for spot crypto exchange-traded products, allowing exposure through a listed vehicle rather than direct token ownership.
