Hassan Maishera
TL;DR
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Bitwise launched the first U.S. spot exchange-traded product offering direct exposure to NEAR.
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The Bitwise NEAR ETF trades on NYSE Arca under the ticker NRR, beginning September 29.
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Bitwise intends to stake the fund’s NEAR holdings in-house, with rewards reflected in its net asset value.
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The asset manager is positioning NEAR as infrastructure for an economy increasingly powered by AI agents.
Bitwise has launched the Bitwise NEAR ETF, expanding its cryptocurrency investment lineup with a fund offering direct exposure to the NEAR token.
Trading began September 29 on NYSE Arca under the ticker NRR. According to Bitwise, the fund is the first U.S. spot exchange-traded product dedicated to NEAR.
The launch combines exposure to the blockchain’s native asset with plans to generate staking rewards.
It also reflects Bitwise’s investment thesis that blockchain infrastructure could play a larger role as AI agents increasingly participate in economic activity.
NRR Offers NEAR Exposure Through an Exchange-Traded Fund
The Bitwise NEAR ETF gives investors a way to obtain exposure to NEAR through an exchange-traded security rather than purchasing and managing tokens directly.
The fund carries a 0.75% management fee. Investors can access it through brokerage accounts that support trading in the product, bringing NEAR into the same investment format as Bitwise’s other single-asset crypto funds.
The structure makes a distinction between owning fund shares and holding NEAR in a personal wallet. Shareholders receive investment exposure through the fund, while Bitwise manages the underlying holdings.
NRR’s arrival broadens the range of individual cryptocurrency assets available through Bitwise’s U.S. product lineup. The firm already offers funds tied to bitcoin, ether, Solana, XRP and Hyperliquid.
Staking Rewards Will Accrue Through the Fund’s NAV
Bitwise intends to stake NRR’s NEAR holdings in-house. Staking involves committing tokens to support a proof-of-stake network’s operation in exchange for potential rewards.
Under the arrangement described by Bitwise, those rewards would accrue to shareholders through the fund’s net asset value, or NAV.
That means rewards would contribute to the value of the fund’s assets rather than being described as a separate cash distribution to investors.
The announcement does not specify a projected staking yield or the proportion of holdings that will be staked. It therefore outlines the intended approach without establishing a fixed return.
Staking rewards also do not remove the fund’s exposure to NEAR price movements. Changes in the token’s market value remain central to the investment’s performance.
Bitwise Links NEAR to the Growth of AI Agents
Bitwise is presenting NEAR as infrastructure for an emerging AI-powered economy. CEO Hunter Horsley said AI is changing both access to information and the way economic activity occurs.
The company’s thesis centers on agents increasingly acting for users, coordinating with other agents and participating in transactions.
Bitwise believes that shift could create a significant new area of economic activity and views NEAR as a platform being built for that future.
This is the asset manager’s investment outlook. Growth in AI-agent usage does not automatically establish demand for NEAR tokens or guarantee stronger fund performance.
The positioning nevertheless gives NRR a broader narrative beyond exposure to another blockchain asset: Bitwise is linking the product to potential changes in how software conducts economic tasks.
NEAR Protocol is a decentralized blockchain designed to support the creation and deployment of decentralized applications. It uses a proof-of-stake consensus mechanism and emphasizes scalable, developer-friendly infrastructure.
At the time of the report, NEAR traded around $4.88, with a market capitalization of approximately $6.5 billion. That placed it among the 20 largest non-stablecoin cryptocurrencies.
NRR joins the Bitwise Bitcoin ETF, Ethereum ETF, Solana ETF, XRP ETF, and Hyperliquid ETF. Its launch gives investors another dedicated crypto exposure, with staking and Bitwise’s AI-economy thesis forming the main features of the offering.
