With the S-1 now effective, the Bitwise NEAR ETF (NRR) can begin trading on NYSE Arca within days. Monitor the first day of trading and subsequent creation/redemption activity by authorized participants. The staking yield will be a key differentiator versus other crypto ETPs.
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Executive Summary
The SEC declared the Bitwise NEAR ETF's S-1 registration statement effective on September 24, 2026, clearing the way for the trust's shares (ticker: NRR) to begin trading on NYSE Arca. This is a new crypto ETF that will hold NEAR tokens and generate additional yield through staking, with a 0.75% annual sponsor fee. The effectiveness follows six amendments to the S-1 and means the trust can now sell shares to the public, with initial seed baskets already funded at $25 per share.
Key Facts
- The SEC declared the Bitwise NEAR ETF's S-1 registration (File No. 333-286995) effective on September 24, 2026.
- The trust will issue shares (ticker: NRR) listed on NYSE Arca, providing exposure to NEAR tokens with a 0.75% annual sponsor fee.
- The trust will also stake NEAR tokens to generate additional NEAR yield.
- Seed capital of $200 was purchased on July 28, 2026 at $25 per share (8 shares).
- An affiliate will purchase initial Baskets of 20,000 shares for $500,000 at $25 per share.
- The trust is not registered under the Investment Company Act of 1940 and is not a commodity pool under the Commodity Exchange Act.
Financial Impact
Initial seed capital of $200 and initial seed baskets of $500,000 at $25 per share; ongoing sponsor fee of 0.75% of NEAR holdings.
Risk Factors
- NEAR token price volatility directly impacts NAV and share price.
- The trust is not registered under the Investment Company Act of 1940, offering fewer investor protections.
- Staking involves validator risk and potential slashing events.
- Continuous offering means shares can be created and redeemed in Baskets of 10,000 shares, creating potential for premium/discount to NAV.
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-003049 |
| Document: 9999999995-26-003049-index.html | 9999999995-26-003049 |
| Document: 9999999995-26-003049.txt | 9999999995-26-003049 |
US Market Status
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