The SEC declared Bitwiseâs NEAR ETF registration effective, moving the proposed product closer to a potential NYSE listing.
The protocol announced its listing on Hyperliquid's strict list after going live on the Hyperliquid spot market earlier.
NEAR has gained 240% year-to-date, rallying toward $5 as the token reversed previous losses.
NEAR Protocolâs native token climbed above $5 on Friday, extending a sharp multi-week rally as progress on a proposed Bitwise exchange-traded fund (ETF) coincided with growing activity across the networkâs ecosystem.
SEC clears Bitwise NEAR ETF to list on NYSE
The US Securities and Exchange Commission (SEC) declared Bitwiseâs registration statement for the NEAR ETF effective, clearing a key regulatory step for the proposed product. Bitwise also filed Form 8-A to register the fundâs common shares for listing on NYSE Arca under the ticker NRR.
These filings bring the proposed ETF closer to trading on a US exchange, although the registration statement and Form 8-A do not confirm a launch date.
The Bitwise NEAR ETF is designed to provide investors with exposure to the value of NEAR held by the fund. The product also includes a staking component, allowing the fund to seek additional returns through staking its holdings.
Coinbase Custody will serve as the fundâs custodian, while Bitwise has set the sponsor fee at 0.75% annually.
NEAR extends recovery, jumps 240% year-to-date
The developments have coincided with a substantial recovery in NEARâs market value.
NEAR is trading close to $5, up 6% in the past 24 hours. The token has gained roughly 176% over the past 30 days, making it one of the stronger-performing major Layer-1 tokens during the period.
NEAR has now recovered from its earlier 2026 lows, with elevated trading activity accompanying the move toward higher price levels. The token is up 240% year-to-date, with a market cap of $6.5 billion that puts it in 22nd place among the largest cryptocurrencies by market cap.
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