Bitwise Launches First NEAR Protocol ETF in US Market
The Bitwise Asset Management company has launched the first exchange-traded fund (ETF) focused on the NEAR Protocol in the US market. The new ETF, called NRR, is listed on the NYSE Arca and offers investors exposure to the NEAR token with a twist: it also allows for staking, which can generate additional income.
The NRR ETF has an annual management fee of 0.75% and will hold tokens that are then put into staking by Bitwise. The rewards from staking will be added to the fund's net asset value, benefiting investors without requiring them to directly operate validators or lock up their assets on the blockchain.
Bitwise has been expanding its product lineup beyond Bitcoin and Ethereum with ETFs tied to altcoins like Solana, XRP, and Hyperliquid. The launch of NRR reflects this strategy, which aims to bring more diversification to the US market for crypto-ETFs.