Bitwise NEAR ETF Wins Listing Approval as Token Nears $5

The regulatory green light, formalized on September 24, allows the trust to move toward its public debut. Bitwise intends to stake the underlying NEAR holdings to generate additional yield, though the fund’s prospectus notes that 33% of these rewards will be absorbed by staking-related expenses. The remaining 67% will be funneled back into the trust, complementing a 0.75% annual management fee. Coinbase Custody will serve as the primary safeguard for the assets, with the initial seed capital set at $500,000.

Despite the positive catalyst, the token faces a stiff psychological barrier at the $5 mark. NEAR has climbed from approximately $2.62 in mid-September to test the $4.96 level, fueled by both the ETF anticipation and new spot trading markets on platforms like Hyperliquid. Technical indicators suggest the recent momentum may be reaching a saturation point; the 14-period Money Flow Index currently sits near 77, a level typically associated with overbought conditions. Should the price fail to sustain a breakout above $5, analysts are eyeing support zones near $4.20 and $3.70 as critical floors for the current rally.