Bitwise's NEAR ETF Nears Launch After Clearing Regulatory Hurdles

Bitwise's proposed spot NEAR ETF has cleared two major regulatory hurdles on its path to launch. On September 24, NYSE Arca approved the listing application, and the SEC confirmed the effectiveness of the trust's registration statement via Form 8-A.

This sets up a potential launch around September 29 for the ETF, which will trade under the ticker NRR and hold NEAR Protocol tokens directly. The fund plans to stake 100% of its holdings, generating additional yield on top of any price appreciation.

The annual management fee is set at 0.75%, with Coinbase Custody handling the NEAR tokens themselves and BNY Mellon providing cash custody and administrative services.