Bitwise's NEAR Protocol ETF Sees $35.5 Million in Net Inflows on Debut

Bitwise's new spot exchange-traded fund (ETF) tied to NEAR Protocol has drawn significant interest from investors, attracting $35.5 million in net inflows on its first day of trading.

The ETF, which trades under the ticker 'NRR,' saw a trading volume of $15.1 million on its debut.

Bitwise plans to earn additional yield by staking the NEAR Protocol tokens held by the ETF at an approximately 5% reward rate.

The annual management fee for the Bitwise NEAR ETF is 0.75%, and it began trading on NYSE Arca on September 29.