Bitwise has launched the Bitwise NEAR ETF, providing U.S. investors with spot exposure to NEAR through a regulated product on NYSE Arca. The fund began trading September 29 under ticker NRR and charges a 0.75% management fee.
Unlike derivative-based products, NRR holds NEAR directly. Bitwise plans to stake a significant portion of the fund's NEAR holdings through its internal staking team, with staking rewards accruing to shareholders via changes in net asset value. The company notes that staking rewards can fluctuate and are not guaranteed.
Expanding Bitwise's Crypto Product Range
NRR expands Bitwise's lineup of single-asset cryptocurrency products, which already includes offerings tied to Bitcoin, Ethereum, Solana, XRP, and Hyperliquid. The launch reflects ongoing U.S. demand for regulated cryptocurrency investment vehicles.
The NEAR ETF arrives following market activity in the token. NEAR recently traded near $4.93 with a market value near $6.5 billion. The token gained approximately 80% in one week during September as traders tracked network activity and new privacy-focused trading tools.
Staking Structure and Market Context
NEAR operates on a proof-of-stake system to process transactions and support decentralized applications. The staking structure allows NRR to combine spot token exposure with staking income while investors avoid managing tokens, wallets, or validator operations directly.
Crypto ETF activity has remained robust. U.S. Solana funds recorded their strongest weekly inflow between September 21 and September 25, with Solana ETFs drawing $188.21 million in weekly inflows.
NEAR Positioned for AI Infrastructure
Bitwise is positioning NEAR as infrastructure for transactions involving AI agents, with the company viewing the network as built to support economic activity between AI participants. NRR now provides U.S. market participants with an exchange-traded route to gain NEAR exposure without purchasing the token directly.
