Bitwise Pulls Up to the NEAR Future, Ticker NRR Stands on the Threshold 🏛️

Bitwise has filed amendment no. 3 to its Form S-1 registration statement for a spot NEAR exchange-traded fund, advancing the proposed product toward a launch on NYSE Arca once the U.S. Securities and Exchange Commission grants approval. The filing discloses that the ETF will list and trade under the ticker symbol NRR. The latest update also sets out additional details on the fund's structure, including provisions aimed at providing exposure to NEAR alongside additional income through earnings.

The amended S-1 includes a seed capital investment by Bitwise, with the issuer previously confirming its intent to list shares on NYSE Arca following regulatory clearance. The product is designed to track the spot price of NEAR and to distribute income generated from staking or related activities to investors, according to the disclosure.

NEAR rose more than 4% as the amendment and other developments circulated among traders, with the price move coinciding with the rollout of the Nearcore 2.13 upgrade. The network upgrade introduces protocol-level changes aimed at supporting ongoing scaling work on the NEAR blockchain.

The amendment marks the third revision to Bitwise's NEAR ETF filing and follows the company's earlier spot Bitcoin and spot Ethereum ETF products that have begun trading in U.S. markets. Bitwise is listed as the sponsor of the proposed NRR fund, with NYSE Arca named as the proposed listing exchange in the filing.

Further documentation, including the latest S-1 amendment and disclosures on the seed capital investor, has been posted to the U.S. SEC's public filing system for review.