Bitwise Launches First US Spot NEAR ETF with Staking Rewards

Bitwise has launched its first US spot exchange-traded fund (ETF) for NEAR Protocol, offering investors direct exposure to the token. The Bitwise NEAR ETF (NRR) began trading on NYSE Arca on September 29th.

The fund's management fee is set at 0.75%, and Bitwise plans to stake its NEAR holdings in-house, passing the rewards on to shareholders through the fund's net asset value (NAV).

Bitwise CEO Hunter Horsley believes that NEAR has significant potential due to its focus on building a platform for an emerging AI-powered economy.