Crypto
Bitwise's NEAR ETF Launches with Premium Fee in Crowded US Market
Bitwise's new NEAR ETF, trading under the ticker NRR, has debuted on NYSE Arca after a long wait. The fund, which tracks the native token of Layer 1 blockchain Near, charges a hefty 0.75% annual fee.
This is nearly four times what Bitwise's own flagship Bitcoin fund charges, at just 0.20%. The premium price tag may be due to the smaller size and niche appeal of the NEAR market.
The launch comes after the US Securities and Exchange Commission streamlined its listing rules for digital assets last year, paving the way for dozens of single-asset crypto funds.