Key facts
- Bitwise launched the first US spot exchange-traded product tracking NEAR, the Bitwise NEAR ETF (NRR), on NYSE Arca.
- The ETF carries a 0.75% management fee and will directly hold NEAR tokens, with plans to stake a significant portion.
- NEAR token price has surged approximately 167% in the past month to around $4.94.
- Volume on NEAR Intents has grown to over $32 billion from less than $1 billion a year ago.
- Bitwise sees AI agents as a key future use case for the NEAR network.
- NEAR is a layer-1 blockchain focused on decentralized applications and AI integration.
Crypto asset manager Bitwise has launched the first US spot exchange-traded product tracking NEAR, the Bitwise NEAR ETF (NRR), which began trading on NYSE Arca. The fund carries a 0.75% management fee and will hold NEAR directly, with plans to stake a significant portion of the tokens.
The launch coincides with a substantial rally in the NEAR token, which has gained approximately 167% over the past month to trade around $4.94. This surge is partly attributed to increased activity on NEAR Intents, the network's cross-chain transaction protocol, which has seen its volume rise to over $32 billion from less than $1 billion a year ago.
Bitwise chief investment officer Matt Hougan highlighted AI agents as a key future use case for the NEAR network, noting that evidence of agents using the network has already been observed. NEAR, a layer-1 blockchain for decentralized applications, has shifted its strategy towards AI, focusing on cross-chain infrastructure and autonomous AI agents. This aligns with broader industry trends, as major financial institutions like BlackRock are examining how AI agents could drive demand for blockchain-based payment infrastructure and programmable assets.
NRR joins Bitwise's existing lineup of single-asset crypto ETFs in the US, which includes products tracking Bitcoin, Ether, Solana, XRP, and Hyperliquid. The company had previously launched a European NEAR exchange-traded product in June 2025.