$NEAR Got Its First Spot ETF. The Rally Started Before the News Did On September 25, NYSE Arca approved Bitwise's spot NEAR ETF for listing under the ticker NRR, the first such product for the network. The fund will stake 100% of its NEAR holdings, charges a 0.75% management fee, and uses Coinbase Custody to hold the underlying assets. Bitwise is expected to seed it with an initial 20,000 shares, with a launch possible as soon as next week pending final filings. $NEAR jumped as much as 20% on the news to touch $5.05, extending a rally that was already up roughly 36% for the week before the approval even landed. The part worth watching: NEAR futures open interest climbed nearly 15% in 24 hours to $1.49 billion, with almost 10% of that increase arriving in just four hours. Spot trading volume, meanwhile, fell 33% over the same stretch. An ETF approval is a real, durable catalyst. A leverage-driven spike stacked on top of it is not the same thing, and right now, both are happening at once. #Altcoin Season# #BTC Price Analysis# #Macro Insights#