Bitwise Launches NEAR Spot ETF at $4.90

Bitwise is preparing to launch a spot ETF dedicated to NEAR, the token of the NEAR Protocol, which will be listed under the ticker NRR on NYSE Arca. Approval has been confirmed in a document filed with the SEC. This ETF will allow investors to gain exposure to NEAR without directly purchasing the cryptocurrency, by holding NEAR tokens. NEAR is currently trading around $4.90, with an increase of about 34% over seven days. The ETF could facilitate access to NEAR for traditional investors, particularly institutional ones, and potentially drive up its price. Bitwise had previously expressed optimism about NEAR's future, estimating that the token could reach around $155 by 2030, with an optimistic scenario pushing it to $562. However, these projections should be viewed with caution.

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