Bitwise appears set to launch its spot NEAR ETF today on NYSE Arca under the ticker NRR, giving traditional investors direct exposure to NEAR alongside staking rewards.
What's the Scoop?
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Straightforward NEAR Exposure:NRR will hold NEAR directly , giving investors exposure to the token through a normal brokerage account without needing to buy, custody, or manage NEAR themselves. The fund will charge a 0.75% annual management fee, with Coinbase Custody holding its tokens.
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Staking Built In:Unlike simply holding NEAR, Bitwise intends to stake 100% of the fund's NEAR under normal conditions , allowing the ETF to earn additional tokens for helping secure the network. Some NEAR may temporarily remain unstaked when needed to handle fund operations and redemptions.
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Rewards Flow Back to Investors:Of the NEAR generated through staking, roughly 67% will stay in the fund , increasing the amount of NEAR backing its shares, while the remaining 33% covers staking-related expenses. This effectively gives ETF holders both NEAR price exposure and a portion of the token's native staking yield.
