#Bitwise申请上市NEAR协议ETF
$NEAR Is it already up to $5, and the institutions are here to take over?
This time, Bitwise isn’t just “filing” an application—registration for the NEAR ETF has taken effect, and NYSE Arca has also approved the listing under ticker NRR, which is expected to start trading soon. Oddly enough, NEAR has already surged from around $2.30 to $5 recently; in the past 7 days it’s risen about 27%, and the spot 24-hour trading volume is also around $1.5 billion.
What the market is really betting on is the expectation that the entry point for U.S. institutional capital is opening. But the expectation has already run quite fast. The NEAR perpetual contract open interest (OI) has jumped from $640 million on September 16 to about $1.57 billion. Funding rates have stayed positive, and leverage is clearly keeping up.
I’ll focus especially on the real inflows after the ETF officially starts trading. Previously, the Bitwise Europe NEAR staking ETP that broke $100 million mainly benefited from NEAR’s explosive price increase to push up AUM; share growth was only about 0.6%. If, after the U.S. ETF launches, there truly are sustained net inflows, then the “institutional story” is actually taking shape. Otherwise, this $5 move may have already finished the script ahead of time.
$NEAR Is it already up to $5, and the institutions are here to take over?
This time, Bitwise isn’t just “filing” an application—registration for the NEAR ETF has taken effect, and NYSE Arca has also approved the listing under ticker NRR, which is expected to start trading soon. Oddly enough, NEAR has already surged from around $2.30 to $5 recently; in the past 7 days it’s risen about 27%, and the spot 24-hour trading volume is also around $1.5 billion.
What the market is really betting on is the expectation that the entry point for U.S. institutional capital is opening. But the expectation has already run quite fast. The NEAR perpetual contract open interest (OI) has jumped from $640 million on September 16 to about $1.57 billion. Funding rates have stayed positive, and leverage is clearly keeping up.
I’ll focus especially on the real inflows after the ETF officially starts trading. Previously, the Bitwise Europe NEAR staking ETP that broke $100 million mainly benefited from NEAR’s explosive price increase to push up AUM; share growth was only about 0.6%. If, after the U.S. ETF launches, there truly are sustained net inflows, then the “institutional story” is actually taking shape. Otherwise, this $5 move may have already finished the script ahead of time.