đš NEAR ETF PULLS $8M DAY INFLOW AMID BUG
Bitwise's NEAR ETF just pulled in $8.08M in net inflows on October 1, the same day a bug reportedly hit NEAR Intents.
That inflow number is actually significant once you run the math. $8.08M against the fund's $55.57M in total net assets means roughly 14.5% of everything the fund holds came in on a single day. Not a quiet trading session by any measure.
One correction worth flagging: the fund's own data shows cumulative net inflow at $44.07M, not the higher figure some posts covering this are citing. Always worth checking the actual widget over the headline number.
As for the bug, it's being reported as an app-layer issue on the swap product, around $3.8M, with the team reportedly saying affected users will be made whole. That's a very different story than a hit to the NEAR protocol itself. App-layer bugs get patched. Protocol-level ones are a different kind of problem entirely. Still worth watching for official confirmation before treating it as settled.
What's actually interesting here is the contrast. A reported exploit hit the ecosystem the same day the ETF had one of its stronger inflow days. If that holds up, it says something about how separated investor sentiment has become from the underlying app-layer risk.
$NEAR
Bitwise's NEAR ETF just pulled in $8.08M in net inflows on October 1, the same day a bug reportedly hit NEAR Intents.
That inflow number is actually significant once you run the math. $8.08M against the fund's $55.57M in total net assets means roughly 14.5% of everything the fund holds came in on a single day. Not a quiet trading session by any measure.
One correction worth flagging: the fund's own data shows cumulative net inflow at $44.07M, not the higher figure some posts covering this are citing. Always worth checking the actual widget over the headline number.
As for the bug, it's being reported as an app-layer issue on the swap product, around $3.8M, with the team reportedly saying affected users will be made whole. That's a very different story than a hit to the NEAR protocol itself. App-layer bugs get patched. Protocol-level ones are a different kind of problem entirely. Still worth watching for official confirmation before treating it as settled.
What's actually interesting here is the contrast. A reported exploit hit the ecosystem the same day the ETF had one of its stronger inflow days. If that holds up, it says something about how separated investor sentiment has become from the underlying app-layer risk.
$NEAR
