Bitwise Launches First Spot NEAR ETF on NYSE Arca

Key Insights:

• Bitwise ushers in the dawn of the Spot NEAR ETF in the US as trading commences on the NYSE Arca.
• NEAR crypto records the largest daily spot outflow in recent history, largely driven by profit-taking.
• Near Protocol achieved record-high TVL growth and the second-highest monthly revenue collection in September.

The NEAR protocol just got its first-ever NEAR ETF courtesy of Bitwise. But will this milestone lend more bullish energy to the bulls, especially considering its performance this month?

The NEAR community is celebrating a major milestone after Bitwise launched the first NEAR ETF. The NEAR crypto now joins the growing list of cryptocurrencies that have spot ETFs in the US. The new ETF was launched on the NYSE Arca.

Bitwise noted in its official announcement that the new NEAR ETF will trade under the ticker NRR. The asset manager noted that the new ETF will give investors exposure to the agentic economy. This is one of the key areas where the NEAR protocol is focusing heavily.

NEAR crypto also has a staking component. This means the new ETF will also offer investors exposure to staking rewards.

The NEAR ETF Launch Cushions NEAR Price

NEAR price kicked off Monday with a sizable retracement. For context, it was down by about 10% from its opening to closing price during the trading session.