Bitwise has launched the Bitwise NEAR ETF, trading under ticker NRR on NYSE Arca starting September 29. The fund provides spot exposure to the NEAR token and stakes its holdings through Bitwise's institutional staking team to generate rewards.
The ETF offers investors access to NEAR's average staking rewards of around 5% annually, with a management fee of 0.75%. This structure gives investors potential income alongside any appreciation in the token's price, while providing institutional and retail participants an easier way to access staking-based crypto exposure through traditional brokerage accounts.
NEAR as AI Infrastructure
Bitwise positions NEAR as infrastructure for autonomous digital commerce, arguing the network sits at the intersection of artificial intelligence and blockchain technology. The investment thesis centers on NEAR's role in facilitating transactions for AI agents and software systems.
Near Intents, a transaction protocol designed to help users and software agents execute cross-chain transactions, has processed more than $32 billion in volume, according to Bitwise, up from less than $1 billion a year ago. The NEAR network finalizes transactions in approximately 1.2 seconds and has maintained 100% uptime during six years of operation.
The network recently reduced inflation to 2.5%, with some ecosystem revenue allocated to NEAR buybacks.
Expansion of Bitwise's Crypto Lineup
The NEAR ETF expands Bitwise's U.S. single-asset crypto product lineup, which already includes offerings tied to bitcoin, ether, solana, XRP, and Hyperliquid's HYPE.
Risk Considerations
Bitwise warns that NRR carries substantial volatility and could result in significant or complete loss of investment. The fund is not registered under the Investment Company Act of 1940 and does not receive the same protections as conventional mutual funds or ETFs.
