Bitwise NEAR ETF Clears NYSE Arca Listing Approval.
The Bitwise NEAR ETF has cleared a key exchange-level step after NYSE Arca approved its listing application, according to a Form 8-A filed with the SEC on September 24. The filing registers the fund’s common shares for trading on NYSE Arca under the ticker NRR.
The ETF is designed to provide direct exposure to NEAR, with the trust also seeking to generate additional returns through staking. Its registration statement lists a 0.75% annual management fee, while Coinbase Custody is expected to safeguard the underlying NEAR.
The fund plans to stake its NEAR holdings under normal conditions, with the trust retaining part of the staking rewards after expenses. Bitwise Investment Manager is also expected to seed the fund with 20,000 shares worth $500,000 before listing.
Importantly, the NYSE Arca approval is an exchange-listing step and does not mean the SEC has separately approved the ETF for trading. An SEC effectiveness filing shows the registration became effective on September 24, but the fund still has no announced first trading date and remains subject to a notice of issuance.
$NEAR #Macro Insights# #NEAR #Altcoin Season#
The Bitwise NEAR ETF has cleared a key exchange-level step after NYSE Arca approved its listing application, according to a Form 8-A filed with the SEC on September 24. The filing registers the fund’s common shares for trading on NYSE Arca under the ticker NRR.
The ETF is designed to provide direct exposure to NEAR, with the trust also seeking to generate additional returns through staking. Its registration statement lists a 0.75% annual management fee, while Coinbase Custody is expected to safeguard the underlying NEAR.
The fund plans to stake its NEAR holdings under normal conditions, with the trust retaining part of the staking rewards after expenses. Bitwise Investment Manager is also expected to seed the fund with 20,000 shares worth $500,000 before listing.
Importantly, the NYSE Arca approval is an exchange-listing step and does not mean the SEC has separately approved the ETF for trading. An SEC effectiveness filing shows the registration became effective on September 24, but the fund still has no announced first trading date and remains subject to a notice of issuance.
$NEAR #Macro Insights# #NEAR #Altcoin Season#
