NEAR rose 10% on the day the ETF launched
Three weeks later, it’s almost given all of that 10% back
Bitwise’s NEAR spot ETF (NRR)
Listed on September 29, its first day, with $35.5 million in net inflows
Bought approximately 7.2 million NEAR
NEAR surged to $5.38 that day, up 10.2%
Today, NEAR is around $4.91
Down about 9% over the past week
The price has been chopping between $4.6 and $5.4 (as of October 20)
Here’s the interesting part
The ETF really did launch, and the money is still in it
But retail investors were expecting: “The ETF launches, and the coin price takes off”
Instead, the good news arrived, the price rose, then fell
That’s how the BTC ETF played out too
The day the news becomes reality is often the short-term peak
Institutions use ETFs to build positions
Retail investors use ETFs as a signal to chase a rally
Same thing, two different uses
From $5.38 to $4.9
Who pocketed that 10%?
#NEAR $NEAR
Just my personal opinion; this is not investment advice
Three weeks later, it’s almost given all of that 10% back
Bitwise’s NEAR spot ETF (NRR)
Listed on September 29, its first day, with $35.5 million in net inflows
Bought approximately 7.2 million NEAR
NEAR surged to $5.38 that day, up 10.2%
Today, NEAR is around $4.91
Down about 9% over the past week
The price has been chopping between $4.6 and $5.4 (as of October 20)
Here’s the interesting part
The ETF really did launch, and the money is still in it
But retail investors were expecting: “The ETF launches, and the coin price takes off”
Instead, the good news arrived, the price rose, then fell
That’s how the BTC ETF played out too
The day the news becomes reality is often the short-term peak
Institutions use ETFs to build positions
Retail investors use ETFs as a signal to chase a rally
Same thing, two different uses
From $5.38 to $4.9
Who pocketed that 10%?
#NEAR $NEAR
Just my personal opinion; this is not investment advice