Bitwise's NEAR ETP Hits $100M Amid Token Price Rally
Bitwise's NEAR Staking ETP has surpassed $100 million in assets under management, according to an announcement from Bitwise Europe. The fund, which holds 25.2 million NEAR tokens and charges a 0.85% annual fee, has seen a significant increase in value over the past month.
The NEAR token itself has experienced a 135% price surge in 30 days, with each unit of the Bitwise ETP rising by 107% over the same period. The fund's administrator reported an increase of just 0.6%, or approximately $639,000, in units purchased over the month.
The Bitwise NEAR Staking ETP was launched in Frankfurt a year ago and has seen steady growth since its inception. Illia Polosukhin, co-founder of NEAR Protocol, commented on the milestone, stating '100m in NEAR Bitwise ETP. Gud milestone since launching it a year ago in Frankfurt.'