Bitwise Near Protocol ETF Clears NYSE Arca Listing Application

Bitwise Asset Management's planned Near Protocol (NEAR) ETF has cleared its NYSE Arca listing application. The fund, set to trade under the ticker NRR, carries a 0.75% annual management fee and currently intends to stake 100% of its NEAR holdings.

The approval comes as NEAR surged about 20% in 24 hours, trading near $5. Futures open interest climbed to roughly $1.49 billion, according to CoinGlass data cited by CoinGape.

Bitwise's ETF could launch next week pending remaining certification and other required filings. The company had previously funded eight shares at $25 each, or $200 in total, with Bitwise Investment Manager expected to buy 20,000 initial shares for $500,000.