BREAKING: Bitwise NEAR ETF Approved to List and Trade on NYSE Arca, Price Soars
Bitwise NEAR ETF cleared to list and trade on NYSE Arca under the ticker NRR. The first spot exchange-traded fund linked to Near Protocol is expected to launch soon. NEAR price is expected to surge, extending the 36% rally in the past week. Ad Ad Bitwise Gets Approval for its NEAR ETF Bitwise’s appl
Bitwise Asset Management has received regulatory approval to list and trade a spot Near Protocol exchange-traded fund on NYSE Arca. The product, which will trade under the ticker symbol NRR, marks the first spot ETF tied directly to the NEAR token to receive such clearance. The fund is expected to begin trading in the near term, according to reporting from CoinGape.
Near Protocol is a layer-1 blockchain network designed to support decentralized applications with a focus on scalability and developer accessibility. Bitwise, one of the more active crypto asset managers in the ETF space, has pursued a broad range of digital asset investment products in recent years as regulatory conditions in the United States have gradually evolved. The approval follows a period of heightened momentum for NEAR, which has recorded a 36% price increase over the past week.
The listing approval adds Near Protocol to a growing list of altcoins gaining institutional-grade investment vehicles in the United States. Following the landmark approvals of spot Bitcoin and Ethereum ETFs, regulators appear increasingly willing to consider products tied to other established blockchain networks. The development could attract a new category of institutional and retail investors seeking exposure to NEAR without holding the asset directly.
Market participants will be watching the fund's launch date, initial trading volumes, and any further price movement in NEAR as the product prepares to go live on NYSE Arca.
Source: CoinGape
