Bitwise Debuts First US Spot NEAR ETF Amid AI-Fueled Token Rally

Crypto asset manager Bitwise has launched its first US spot exchange-traded product tracking NEAR, allowing investors to access the token through a regulated vehicle. The Bitwise NEAR ETF began trading on NYSE Arca under the ticker NRR and carries a 0.75% management fee.

The fund holds NEAR directly and plans to stake a significant portion of the underlying tokens to capture network staking rewards, which are estimated at around 5% annually. This move comes as NEAR has seen sharp momentum, surging about 167% over the past month to trade near $4.94.

Bitwise' chief investment officer, Matt Hougan, stated that autonomous AI agents represent a growing use case for the network and have already observed evidence of agents transacting on it. However, most activity remains human-driven, with the balance expected to shift over time.