Bitwise Brings Regulated NEAR Exposure to US Investors via New ETF
Bitwise has launched a US spot exchange-traded product (ETF) that tracks NEAR, giving investors regulated exposure to the token via a fund trading on NYSE Arca. The Bitwise NEAR ETF, branded as NRR, charges a 0.75% management fee and holds NEAR directly. Bitwise plans to stake a significant portion of the fund's holdings, positioning the ETF to potentially benefit from staking economics alongside spot exposure.
The launch marks another step in Bitwise's expansion of single-asset crypto ETFs in the US. NRR joins its existing lineup tracking major digital assets, including Bitcoin (BITB), Ether (ETHW), Solana (BSOL), XRP (XRP), and Hyperliquid (BHYP).
Bitwise attributes the current attention to NEAR Intents, the network's cross-chain transaction approach. Transaction volume on the Intents protocol has surged, rising from under $1 billion a year ago to over $32 billion.