Bitwise’s NEAR ETF Draws $35.5 Million of Net Inflows on Debut
JOON HYOUNG LEE
Summary
- Bitwise said its spot ETF tied to NEAR Protocol recorded $35.5 million in net inflows on its first day of trading.
- The NEAR spot ETF, trading under the ticker 'NRR,' posted $15.1 million in volume on its debut.
- Bitwise said it will stake the NEAR Protocol tokens held by the ETF, with an approximately 5% reward rate and an annual 0.75% management fee.
Forecast Trend Report by Period
Bitwise’s spot exchange-traded fund tied to NEAR Protocol attracted $35.5 million in net inflows on its first day of trading.
Blockbeats reported on Sept. 30 that the NEAR spot ETF, the first such fund Bitwise has launched in the US, recorded $35.5 million of net inflows on its trading debut.
The ETF trades under the ticker NRR. First-day trading volume totaled $15.1 million.
Bitwise plans to earn additional yield by staking the NEAR Protocol tokens held by the ETF. NEAR Protocol’s average staking reward rate is about 5%.
The Bitwise NEAR ETF began trading on NYSE Arca on Sept. 29. Its annual management fee is 0.75%.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul