Bitwise $NEAR ETF Surpasses $52.8 Million in Assets Under Management After Two Trading Days

The Bitwise $NEAR ETF (NRR) made a strong debut on the NYSE Arca, surpassing $52.8 million in assets under management after just two trading days. According to Bitwise's CIO, Matt Hougan, the fund's initial performance exceeded expectations, with net inflows of $13.2 million and total trading volume reaching $20.1 million on its second day.

The ETF offers investors direct exposure to the $NEAR token with built-in staking, generating an annual yield of around 5% and increasing the net asset value of investors' holdings.

The fund's success can be attributed to a 40-page report by Bitwise, which proposed valuing $NEAR Protocol as a global settlement hub for autonomous AI agents. The report outlined two scenarios for the asset's future, including a bull case where the network captures 3% of the global AI agent market, and a bear case where centralized giants retain a monopoly on the AI market.