Overview
- The Bitwise NEAR ETF, which began trading on Tuesday, Sept. 29, 2026, reported roughly $35.5 million of first-day inflows and acquired about 7.2 million NEAR tokens for the trust.
- Bitwise holds NEAR directly and intends to stake substantially all fund holdings, charging a 0.75% management fee and retaining 33% of staking rewards for expenses with the remaining 67% added to the fund’s NAV.
- The ETF’s debut coincided with NEAR rising to roughly $5.3–$5.4 and higher trading volume, and market participants are watching daily inflows and any gaps between market price and NAV to judge lasting demand.
- Coinbase Custody is named for safekeeping while BNY Mellon handles cash and administration, but the staking model creates risks including variable rewards, slashing penalties, limits on liquidity for redemptions, and possible market-price discounts to NAV.
- A nearcore 2.14 upgrade targeted for about Oct. 5 will burn a greater share of gas fees which could tighten supply if usage grows, and continued ETF creations will determine whether the listing converts early interest into sustained spot buying.