Bitwise Teases NEAR ETF Launch for Today
Bitwise looks set to launch its NEAR ETF, offering direct NEAR exposure alongside staking rewards through NYSE Arca.
Bitwise appears set to launch its spot NEAR ETF today on NYSE Arca under the ticker NRR, giving traditional investors direct exposure to NEAR alongside staking rewards.
What’s the Scoop?
Straightforward NEAR Exposure: NRR will hold NEAR directly, giving investors exposure to the token through a normal brokerage account without needing to buy, custody, or manage NEAR themselves. The fund will charge a 0.75% annual management fee, with Coinbase Custody holding its tokens.
Staking Built In: Unlike simply holding NEAR, Bitwise intends to stake 100% of the fund’s NEAR under normal conditions, allowing the ETF to earn additional tokens for helping secure the network. Some NEAR may temporarily remain unstaked when needed to handle fund operations and redemptions.
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Rewards Flow Back to Investors: Of the NEAR generated through staking, roughly 67% will stay in the fund, increasing the amount of NEAR backing its shares, while the remaining 33% covers staking-related expenses. This effectively gives ETF holders both NEAR price exposure and a portion of the token’s native staking yield.
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