On Sep 21, our analyst flagged NEAR open interest as “steadily rising.” Eight days later the Bitwise NEAR ETF launched, and the leverage had already thinned out. 🏛️ NRR began trading on NYSE Arca on Sep 29, and Bitwise reported $35.5M in first-day net inflows. 🧭 Open interest in coins peaked at ~215M NEAR on Sep 21, the day of that Insight. 📊 Dollar open interest kept climbing to ~$1.05B on Sep 27, while the coin count was already ~9% off its peak. 📉 By launch day, open interest in coins was down ~21% to ~169M NEAR, just below its Sep 16 level. 🔀 Price over the same stretch, Sep 16 to Sep 29: up ~86%. Spot buyers showed up on launch day, with leverage already lighter than before the run began. 📖 Read the original Insight: https://app.santiment.net/insights/read/11206 🔗 Explore NEAR open interest in Sanbase: https://app.santiment.net/charts/near-coin-oi-32168?utm_source=x&utm_medium=post&utm_campaign=nearetf_092026&aff=33