Bitwise Debuts First US Spot Near ETF Amid Token's Tripling Rally

Bitwise has launched its Near ETF on NYSE Arca under the ticker NRR. This marks the first spot Near product available to U.S. investors, offering a way to bet on the AI-focused blockchain from within an ordinary brokerage account.

The fund charges a 0.75% annual fee and holds actual Near tokens rather than futures contracts. Bitwise plans to stake its Near to capture average rewards of about 5%, which will accrue to shareholders as a rise in the fund's value per share.

Near has seen significant growth since August, with prices nearly tripling from $1.60 to around $5.09 on Binance. However, it is still down 75% from its all-time high above $20.

Bitwise CEO Hunter Horsley sees the potential for AI agents to unlock a new frontier in the global economy and believes NEAR is building a platform for that future.