NEAR ETF Lands on NYSE Arca: Bitwise Stakes Its Claim, NRR Rallies 20% 🏛️

Bitwise Asset Management has received approval to list and trade its spot NEAR exchange-traded fund on NYSE Arca under the ticker NRR, marking the first such product tied to the Near Protocol token. The approval makes the fund's S-1 registration statement effective under Section 12(b) of the Exchange Act, clearing the way for a forthcoming launch.

The Bitwise NEAR ETF carries a management fee of 0.75%, with the issuer disclosing an intent to stake 100% of the trust's NEAR holdings. According to the registration statement, "The Staking Expenses will equal 33% of the amount of the additional NEAR generated by the staking of the Trust's NEAR." Staking rewards are expected to flow through to the fund's structure alongside direct token exposure.

Bitwise Asset Management earlier purchased $200 worth of shares at the seeding stage, receiving 8 shares at $25 each. The launch follows Bitwise's prior filing with the U.S. Securities and Exchange Commission to list the product on NYSE Arca, as previously reported by CoinGape.

NEAR price has risen approximately 20% on the day to $5, extending a 36% rally recorded over the prior week. The fund aims to provide regulated access to Near Protocol tokens held within the trust, combined with staking-derived rewards, positioning it as the latest entry in a growing slate of spot crypto ETFs pursuing U.S. listings.