Bitwise NEAR ETF approved for listing on NYSE Arca

Bitwise has received approval to list and trade its NEAR ETF on NYSE Arca under the ticker symbol NRR. This spot exchange-traded fund aims to provide regulated exposure to NEAR Protocol tokens, with the issuer intending to stake 100% of the assets. The fund will carry a management fee of 0.75%.

Following the news, the price of NEAR has experienced significant upward momentum, rallying approximately 175% recently and trading near the $5 mark. Technical analysts note a strong bullish structure, with exponential moving averages indicating rising short-term and long-term trends. The ecosystem is also seeing increased activity, with NEAR Intents volume surpassing $30 billion and total value locked exceeding $210 million.