Crypto
Near Protocol Surges as Bitwise NEAR ETF Wins NYSE Arca Approval
Near Protocol has experienced a significant surge in price, reaching its strongest level since December 2024. The token touched $5.55 in the last 24 hours and now trades near $5.10.
The rally follows NYSE Arca's approval of the Bitwise NEAR ETF on September 24. This is the first US spot fund tied to the token, and it has been granted a ticker symbol of NRR for trading.
Key metrics for the Bitwise NEAR ETF include a management fee of 0.75% per year, paid in NEAR, as well as staking share of about 67% of rewards staying with the trust.
The launch of the Bitwise NEAR ETF has opened up a regulated route for US buyers to invest in Near Protocol through normal brokerage accounts.