Bitwise Launches Spot NEAR ETP with In-House Staking

Bitwise Asset Management has launched its first spot NEAR exchange-traded product (ETP) in the United States, offering investors exposure to NEAR while staking the underlying tokens. The Bitwise NEAR ETF, listed on NYSE Arca as NRR, comes with a 0.75% management fee and provides spot exposure to NEAR, the native asset of the NEAR Protocol.

The ETP holds the tokens and provides exposure through exchange-traded shares, with its net asset value (NAV) calculated against the CME CF NEAR Protocol-Dollar Reference Rate. Bitwise staking team will stake 100% of the fund's NEAR holdings, targeting an average staking reward rate of approximately 5% as of September 25.

The launch of NRR is part of Bitwise's broader strategy to tap into the emerging AI-driven economy, with NEAR's cross-chain infrastructure and Intents protocol simplifying transactions across blockchain networks. The company cites a McKinsey projection of $5 trillion in global agentic commerce by 2030 as a key driver behind its investment thesis.