Bitwise Launches First US Spot NEAR ETF, Betting on Blockchain for AI Economy
Bitwise has introduced the first U.S. spot exchange-traded product designed to track NEAR, broadening its suite of single-asset cryptocurrency funds. The move signals the asset manager’s conviction in the blockchain’s potential to underpin an emerging economy driven by artificial intelligence.
The Bitwise NEAR ETF commenced trading on Tuesday on the NYSE Arca under the ticker symbol NRR. The fund features an annual management fee of 0.75% and directly holds NEAR tokens. Bitwise also intends to stake the fund’s tokens, aiming to generate additional NEAR for shareholders that will be reflected in the fund’s net asset value.
This launch concludes a regulatory journey that began over a year ago. Bitwise submitted the fund’s S-1 registration statement to the Securities and Exchange Commission (SEC) in May 2025. NYSE Arca granted approval for the shares to be listed on September 24, with the SEC registration becoming effective on the same day.
Bitwise is positioning NEAR as a foundational infrastructure for a future where AI agents increasingly handle payments, trade assets, and execute financial transactions on behalf of users. A key element of this strategy is NEAR Intents, the network’s cross-chain transaction system. Bitwise reported that the protocol has processed over $32 billion in volume, a significant increase from less than $1 billion a year prior. NEAR’s own data indicates more than $30 billion in lifetime volume across 35 blockchains.
“NEAR sits at the intersection of two of the biggest trends in technology: AI and crypto,” stated Bitwise Chief Investment Officer Matt Hougan. He argued that autonomous agents will require rapid settlement infrastructure that is not dependent on a single custodian.
In contrast to conventional spot products that merely track the underlying token, the NRR ETF plans to actively utilize its NEAR holdings through staking. Bitwise estimates average NEAR staking rewards to be around 5%, though investors will not receive this full headline rate.
The fund’s SEC filing indicates that under normal conditions, it expects to stake substantially all of its NEAR holdings. Thirty-three percent of the additional tokens generated through staking will be allocated to staking-related expenses, with the trust retaining approximately 67% of the rewards, which are then incorporated into its net asset value. This is in addition to NRR’s 0.75% annual sponsor fee, which is levied against the fund’s NEAR holdings.
Bitwise already provides similar NEAR exposure in Europe. Its NEAR Staking ETP began trading on Deutsche Börse Xetra in July 2025 and held approximately $52.3 million in assets under management as of September 11. The European product has an annual expense ratio of 0.85% and also includes staking rewards.
The U.S. launch adds NEAR to Bitwise’s expanding portfolio of single-asset crypto products, which already includes Bitcoin, Ether, Solana, XRP, and Hyperliquid. This development coincides with NEAR’s strategic shift beyond its initial Layer 1 focus towards infrastructure designed for cross-chain liquidity and AI agents.
NEAR Intents simplifies transactions across different blockchains, enabling applications and agents to execute cross-chain swaps without requiring users to manually interact with bridges or manage gas fees on each network. Bitwise’s SEC prospectus designates exposure to NEAR as the fund’s primary investment objective, with the generation of additional NEAR through staking serving as its secondary objective.
