NEAR approaches $5 as Bitwise ETF listing gains approval

NEAR Protocol’s price is hovering just below the $5 psychological level following NYSE Arca’s approval of Bitwise’s NEAR exchange‑traded fund (ETF) under the ticker NRR. The token has surged more than 170% year‑to‑date, driven by both the rally and the upcoming ETF.

ETF listing approval and structure

On September 24, NYSE Arca approved the listing of Bitwise’s NEAR ETF shares. The fund will charge a 0.75% annual management fee and will initially stake 100% of its NEAR holdings, subject to liquidity needs. Staking expenses will consume roughly 33% of newly generated NEAR, leaving about 67% for the trust.

Staking economics

Staking agents will operate validators for the trust’s tokens. The trust retains the net staking rewards after expenses, which are added to the net asset value (NAV) of the ETF. Investors will not receive the full amount of staking rewards; the retained portion is approximately two‑thirds of the generated tokens.

Market impact and technical outlook

NEAR has risen about 43% over the past week and roughly 176% since the start of the year, trading near $4.96. Technical indicators show strong buying pressure: the 14‑period Money Flow Index is around 77, and the Know Sure Thing (KST) indicator is well above its signal line. Support levels are identified near $4.20‑$4.30 and $3.70‑$3.80, while a clean break above $4.80‑$5.00 would remove the current resistance.

Trading timeline

Bitwise has filed the necessary registration documents, including Form 8‑A and an amended S‑1 prospectus. The prospectus states that shares will list “subject to notice of issuance,” but a specific first‑trading date has not been disclosed. Authorized participants will be able to create or redeem shares in 10,000‑share baskets using NEAR or cash once trading commences.

Key participants

Coinbase Custody will hold the fund’s NEAR tokens, and Bitwise will select staking agents to run validators. The initial seed capital includes a $500,000 purchase of 20,000 shares at $25 each, with Bitwise’s manager providing an additional $200 seed investment.