Bitwise NEAR ETF Gains Listing Approval and Registration Effectiveness

Bitwise clears path for NEAR ETF launch

Bitwise has secured two major approvals for its new Exchange-Traded Fund (ETF) focused on the NEAR Protocol token. The fund, trading under the ticker NRR, received listing approval from NYSE Arca and effective securities registration from the U.S. Securities and Exchange Commission (SEC) on September 24, 2026. An ETF is a financial product that tracks an asset, allowing investors to buy shares through standard brokerage accounts without holding the digital token directly.

The approvals mark a significant step toward offering traditional investors exposure to NEAR and its staking rewards. While the regulatory hurdles have been cleared, the exact start date for trading has not been officially confirmed in a public announcement.

Key details on the NRR fund

• The fund will hold NEAR tokens directly rather than using derivative contracts.
• It charges a 0.75% annual management fee on total assets.
• An additional fee takes 33% of any staking rewards generated, leaving the fund with approximately 67% of the earnings.
• Coinbase Custody will store the tokens, while BNY Mellon acts as the administrator and cash custodian.

Fee structure and staking mechanics

The prospectus outlines specific costs associated with the fund's operations. Beyond the base management fee, the fund deducts expenses from the staking rewards it earns. This means investors receive the majority of the yield, but a portion goes to the staking agents, custodians, and the sponsor.

Although the fund intends to stake 100% of its holdings, it reserves the right to keep some tokens unstaked for liquidity needs, such as meeting investor redemptions or paying operational bills. The fund plans to publish the percentage of tokens currently staked on its website at the start of each trading day.

Liquidity risks and lock-up periods

Investors should note that staking introduces a delay in accessing funds. When NEAR tokens are unstaked, they cannot be transferred for a period of two to four epochs. Since each epoch lasts about 12 hours, this creates a potential window where the fund might face delays in moving assets quickly to meet withdrawal requests.

Market reaction and upcoming dates

In the week leading up to the filings, NEAR Protocol saw a price increase of 19.85%, outperforming both Bitcoin and Ethereum, which declined during the same period. However, on the day of the report, all three assets experienced losses. Bitwise posted a message on social media referencing "09/29/2026," suggesting this date is significant, though the company did not explicitly confirm it as the first day of trading.

What remains uncertain

While the regulatory clearance is confirmed, the specific date for the first trade on the exchange has not been formally announced by the issuer. Additionally, the actual amount of NEAR held in the fund and the daily staking percentage will vary based on market conditions and redemption flows.

Source

• The Defiant