Bitwise’s proposed NEAR spot ETF cleared two important procedural steps on Sept. 24: the U.S. Securities and Exchange Commission declared its registration statement effective, and Bitwise filed Form 8-A registering the shares for exchange trading. The filing says an application to list the shares on NYSE Arca was submitted and approved, with the proposed ticker NRR. These actions move the fund closer to launch but do not mean the ETF has started trading or that the SEC broadly approved the securities; the shares remain subject to a notice of issuance and have no firm trading date. NEAR traded near $4.90 to $5.00 after rising roughly 26% over the week, while CoinCodex’s latest reading showed a gain of more than 35% over seven days. The fund is designed to hold NEAR directly, charge a 0.75% annual management fee and, under normal conditions, stake its holdings. Staking expenses would absorb 33% of additional NEAR generated, while Coinbase Custody would safeguard the tokens. Bitwise Investment Manager plans to seed the fund with 20,000 shares valued at $500,000, using the proceeds to acquire NEAR. The product would give U.S. investors a regulated brokerage route to NEAR exposure, which has largely been available through vehicles such as Grayscale’s NEAR Trust on OTCQB. Growing network activity and Near Intents revenue were also cited alongside the ETF developments as factors supporting the rally.