Breaking: Bitwise NEAR ETF Updates S-1 with SEC, Reveals Ticker & Other Details
Highlights
- Bitwise NEAR ETF amends its S-1 to reveal ticker, seed capital investment, and other details.
- The spot ETF will list and trade under NRR ticker on NYSE Arca after SEC approval.
- NEAR price climbed more than 4% amid latest developments including Nearcore 2.13 upgrade.
Bitwise NEAR ETF has updated its S-1 filing with the US SEC, moving closer to launching the spot exchange-traded fund on NYSE Arca. The issuer revealed the ticker and other key details in the latest amendment. NEAR price has jumped as traders responded to the announcement and other developments.
Bitwise NEAR ETF Updates Filing with the US SEC
Bitwise has filed amendment no 3 to its Form S-1 registration statement for its NEAR ETF, according to the latest US SEC filing. The latest update advances the proposed spot ETF that aims to offer exposure to NEAR price and additional income through earnings.
The Bitwise NEAR ETF has finally disclosed NRR as the ticker symbol. The issuer earlier revealed plans to list and trade shares on NYSE Arca, following SEC approval.
Also, the issuer revealed a seed capital investment by Bitwise Asset Management, the sponsor’s parent. It purchased $200 worth of shares, receiving 8 shares at $25 each.
As CoinGape revealed earlier, Bitwise NEAR ETF added staking as a secondary objective to generate additional income for investors. The trust intends to stake 100% of the NEAR. The issuer has not yet revealed management fees or potential fee waivers.
Notably, The Bank of New York Mellon is selected as cash custodian, administrator, and transfer agent. Coinbase Custody will serve as crypto custodian.
As CoinGape reported earlier, Grayscale also amended its NEAR ETF filing with the US SEC. This came amid rising institutional interest in artificial intelligence (AI) amid the blockbuster SpaceX IPO frenzy.
Crypto Token’s Price Jumps
NEAR Protocol price rebounded 4% as it launched the Nearcore 2.13 upgrade, staking-based payments, and amends its spot ETF filing. The price is currently trading at $1.73, with a 24-hour low and high of $1.69 and $1.73, respectively.
However, trading volume has dropped by 10% over the last 24 hours, indicating traders remain cautious amid yen carry trade unwind risks. However, the price is bouncing off the 200-day moving average.
CoinGlass data showed massive buying in the derivatives market. The total NEAR Protocol futures open interest jumped almost 6% to $365.17 million in the last 24 hours. The futures OI on Binance, OKX, and Bybit climbed more than 1.22%, 1.47%, and 1.68% in the past hour.
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