Bitwise launches first US spot NEAR ETP as SVRN targets 10% of supply
- —Bitwise launched NRR, the first US spot NEAR ETP, with token staking built in
- —Stated staking yield is about 5% annually, accrued into the fund's NAV
- —SVRN targets 10% of NEAR's supply and runs six validators
- —SVRN acquired FastNEAR, which handles 3.5B+ monthly requests and 100TB of data
Why it matters: The first US spot NEAR ETP broadens institutional access to the token and sets a template for altcoin ETPs with staking yield.
Source: TokenPost