Bitwise’s scheduled October 30 rebalance adds NEAR to several large-cap indexes, as announced on October 22. NEAR replaces UNI in the Bitwise 10 Large Cap Crypto Index and the corresponding ex-Bitcoin index, while replacing AVAX in the Bitwise 10 Select Large Cap Crypto Index. LIT also replaces ETHFI in the decentralized-finance index, but no rebalance was scheduled for the BTC/ETH Equal Weight index. These changes do not guarantee a rise in NEAR’s price: the market impact will depend on the assets tracking each index, the weight assigned to the new constituent and how managers execute trades.
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