The updated U.S. SEC filing adds detail on staking, custodians and seed capital as institutional interest in NEAR-linked products builds alongside a rebound in futures open interest.
Bitwise has filed Amendment No. 3 to its Form S-1 for a proposed spot NEAR exchange-traded product with the U.S. SEC, disclosing NRR as the ticker and outlining plans to list on NYSE Arca if approved. The filing says the trust would primarily track the value of NEAR held by the fund, minus expenses and liabilities, while also seeking additional income by staking up to 100% of its NEAR holdings. Bitwise Asset Management, the sponsor’s parent company, provided $200 in seed capital for eight shares priced at $25 each. The amendment does not yet disclose a management fee or any introductory fee waiver. The Bank of New York Mellon would serve as cash custodian, administrator and transfer agent, while Coinbase Custody Trust Company would safeguard the NEAR. The update comes as Grayscale also pursues a NEAR product and as U.S. asset managers broaden digital-asset offerings beyond Bitcoin and Ethereum. NEAR rose about 4% to $1.73 after the filing and the Nearcore 2.13 network upgrade, while futures open interest climbed nearly 6% to $365.17 million even as spot trading volume fell about 10%.