NEAR Enters Bitwise Large-Cap Indexes in October Rebalance

TL;DR: Bitwise’s October 30 rebalance brings NEAR into several indexes, replacing UNI or AVAX depending on the benchmark. Index membership alone does not establish a guaranteed price effect. Bitwise’s latest scheduled index changes place NEAR in several large-cap benchmarks, with the outgoing constituent depending on the particular index. The changes were announced on October 22 for the October 30 rebalance. The development is relevant to investors tracking rules-based crypto exposure. It also illustrates why an index announcement needs to be read at the level of the named benchmark, rather than reduced to a general claim that a token has been added to every Bitwise product. The changes differ across benchmarks The official rebalance notice says NEAR replaces UNI in the Bitwise 10 Large Cap Crypto Index and the corresponding ex-Bitcoin index. In the Bitwise 10 Select Large Cap Crypto Index, NEAR replaces AVAX. The notice also lists LIT replacing ETHFI in the decentralized-finance index. No rebalance was scheduled for the BTC/ETH Equal Weight index in that cycle. Those are constituent decisions. They do not, by themselves, disclose the execution price of any fund trade, the value of...