$NEAR Price Slips After Bitwise Launch on Wall Street

Bitwise's launch of its $NEAR ETF has brought the Near Protocol token to Wall Street, but the chart isn't impressed. The price had surged to levels around $5.10 due to the listing, but since peaking at $5.57 it has been declining.

The rising trade volume over the last couple of days indicates significant interest in the ETF listing, with $1.2-1.3 billion traded daily. However, the broken trend line suggests that the previous rally has lost its structure and a sustained amount of volume is now required to continue the upward momentum.

Despite this, Bitwise's $NEAR ETF under the ticker (NRR) has created regulated U.S. access to the token and has attracted net inflows of approximately $35.99 million in its first session, with total assets reaching around $36.5 million.