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      Bitwise's NEAR ETF Receives Regulatory Approval Ahead of Launch

      Bitwise Investment Advisers has received regulatory approval for its proposed spot NEAR ETF, which is set to trade under the ticker NRR. On September 24, 2026, both NYSE Arca and the U.S. Securities and Exchange Commission (SEC) cleared the necessary applications, paving the way for a potential launch around September 29, 2026.

      This ETF is notable for its structure, as it will hold NEAR Protocol tokens directly and stake the entire position to generate additional yield. This approach distinguishes it from traditional Bitcoin or Ether ETFs, which typically only hold the underlying assets without staking. Coinbase Custody will manage the NEAR tokens, while BNY Mellon will provide cash custody and administrative services. The fund will charge an annual management fee of 0.75%.

      Bitwise initially organized the trust as a Delaware statutory trust in April 2025, taking approximately 17 months to navigate the regulatory process. Following the announcement of the approval, NEAR's token price increased by about 20% within 24 hours and continued to rise, reaching a total increase of approximately 26% over the following week. However, the SEC's approval does not imply an endorsement of the NEAR asset itself.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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