Bitwise appears set to launch its NEAR ETF, offering direct NEAR exposure as well as staking rewards through NYSE Arca.
Bitwise appears set to launch its NEAR ETF spot today on NYSE Arca under the ticker RNRproviding traditional investors with direct exposure to NEAR as well as staking rewards.
What’s the scoop?
-
ALMOST simple exhibition: NRR will hold NEAR directlyoffering investors exposure to the token through a normal brokerage account without the need to purchase, hold or manage NEAR themselves. The fund will charge a 0.75% annual management feeswith Coinbase Custody holding its tokens.
-
Integrated staking: Unlike simply maintaining NEAR, Bitwise intends to invest 100% of the NEAR of the fund under normal conditionsallowing the ETF to earn additional tokens to help secure the network. Certain NEARs may temporarily remain uncommitted when necessary to manage transactions and redemptions of funds.
Do you like this article?
Subscribe to Bankless or log in
-
The rewards go to investors: Among the NEARs generated by staking, approximately 67% will remain in the fundincreasing the amount of NEAR backing its shares, while the remaining 33% covers staking expenses. This effectively gives ETF holders both exposure to the NEAR price and a portion of the token’s native staking yield.
— (@)
About the Author
