Bitwise Secures Key Approvals for NEAR Protocol ETF, Eyes Late September Launch
Bitwise Investment Advisers has successfully navigated two significant regulatory milestones for its proposed spot NEAR Protocol Exchange Traded Fund (ETF), paving the way for a potential launch around September 29, 2026. On September 24, 2026, NYSE Arca approved the ETF’s listing application, and the Securities and Exchange Commission (SEC) confirmed the effectiveness of the trust’s registration statement via Form 8-A on the same day.
The ETF, slated to trade under the ticker symbol NRR, is structured to hold NEAR Protocol tokens directly. A key feature of the fund is its intention to stake the entirety of its holdings, aiming to generate additional yield from staking rewards on top of any potential price appreciation of the underlying asset. This approach distinguishes it from Bitcoin or Ether ETFs, which typically hold their assets in cold storage without actively generating yield.
Coinbase Custody will be responsible for the safekeeping of the NEAR tokens, while BNY Mellon will provide cash custody and administrative services. The fund’s annual management fee has been set at 0.75%.
The trust was established as a Delaware statutory trust in April 2025, indicating a regulatory journey of approximately 17 months from its formation to the recent listing approval.
Initial seed capital for the filing was modest, comprising 8 shares valued at $25 each, totaling $200 in net assets as of July 28, 2026. A planned subsequent seed basket of 20,000 shares, valued at $500,000, is expected to establish the necessary working capital base prior to the public debut.
Following the news of the regulatory approvals, the price of NEAR’s token experienced a notable surge, climbing approximately 20% within 24 hours and extending its gains to around 26% over the subsequent week.
It is important to note that the SEC’s approval of the registration statement does not constitute an endorsement of the NEAR Protocol token itself or the ETF security.
