Bitwise’s Spot NEAR ETF Draws $35.5 Million in Net Inflows on Debut
Summary
- Bitwise said its spot ETF tied to NEAR Protocol recorded $35.5 million in net inflows on its first day of trading.
- The ETF trades under the ticker "NRR" and posted $15.1 million in trading volume on its debut.
- Bitwise said it will earn additional yield through staking NEAR Protocol tokens, with an average 5% reward rate, while the fund charges an annual 0.75% management fee.
Forecast Trend Report by Period
Bitwise’s spot exchange-traded fund tied to NEAR Protocol drew $35.5 million in net inflows on its first day of trading.
According to BlockBeats, Bitwise’s spot NEAR ETF — the first such product launched in the US — recorded $35.5 million in net inflows on Sept. 30, its trading debut.
The ETF trades under the ticker "NRR." First-day trading volume totaled $15.1 million.
Bitwise plans to generate 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. The fund charges an annual management fee of 0.75%.
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