NEAR moved toward the $5 mark after NYSE Arca approved the listing of Bitwise’s NEAR ETF shares under the ticker NRR on September 24. The approval adds a new institutional-market catalyst to a rally that had already sent the token sharply higher in recent weeks.
At the time cited in the source report, NEAR was trading near $4.96, up about 43% over seven days and roughly 176% since the start of the year. Even with that advance, the token was still struggling to establish itself above the closely watched $5 area.
ETF approval adds to an existing rally
The latest move followed NYSE Arca’s approval of Bitwise’s NEAR ETF listing application. The filing gives the market a clearer path for the product to trade publicly in the United States, although the documents did not provide a confirmed launch date.
The ETF news arrived after a powerful price run had already begun. According to the source report, NEAR was near $2 when crypto.news previously covered Bitwise’s July amendment adding staking to the filing. CoinGecko data cited in the article showed the token closing near $2.62 on September 16 before climbing to around $4.96 by press time.
How the Bitwise product is structured
Bitwise’s filing outlined a trust that, under normal conditions, plans to stake 100% of its NEAR holdings. The structure includes exceptions tied to liquidity and operational needs, but the stated starting point is full staking of the trust’s assets.
The economics described in the filing split staking rewards between the trust and staking-related costs. About 33% of newly generated NEAR would go toward staking expenses, leaving roughly 67% for the trust. That arrangement sits alongside a separate annual management fee of 0.75%.
The article also said the shares are registered for public sale in the U.S., and that authorized participants will be able to create or redeem shares in 10,000-share baskets using either NEAR or cash. Initial seed proceeds are expected to be used to acquire NEAR at or before listing.
Why $5 remains difficult to hold
Despite the ETF catalyst, NEAR had not cleanly secured a move above $5. The report described the token as having briefly entered the $4.80 to $5.00 zone before momentum cooled, leaving that band as the next obvious psychological barrier after one of its strongest monthly advances of 2026.
Technical readings cited in the article pointed to strong but stretched momentum. The 14-period Money Flow Index was near 77.01, a level associated in the report with heavy buying pressure and the upper end of its normal range. The Know Sure Thing indicator was also strongly positive near 912.24, well above its signal line around 626.11.
Those indicators were still rising, which the source said supported the strength of NEAR’s September trend. At the same time, the combination of rapid gains and resistance near $5 suggested the market could be approaching an overheated area unless buyers can push through it decisively.
What comes next for the ETF and the token
Several procedural steps appear to have been completed for the product, including a Form 8-A registration for NYSE Arca and a final prospectus filed the same day, according to the report. Even so, no first trading date was confirmed in the documents cited by the article.
For the token itself, the source framed the next key level in simple terms: a clean break through the $4.80 to $5.00 range would remove the immediate resistance, while a failure to hold in the low-$4 area would point to a deeper reset after September’s rapid advance. For now, the confirmed next step is that the listing has been approved, while the market still awaits the ETF’s actual trading debut.
Source: crypto.news