$NEAR ETF Launch Sparks Optimism for Decentralized AI Economy

Bitwise's latest innovation is now live on NYSE Arca as the spot Bitwise $NEAR ETF, trading under the ticker NRR. The fund comes with an annual fee of 0.75%. In a bold move, Bitwise released a comprehensive 40-page research report alongside the listing, outlining a mathematical model that predicts $NEAR could reach a staggering $562.81 by 2030 in an optimistic scenario.

Chief Investment Officer Matt Hougan and Head of European Research André Dragosch calculated this target using a conservative SaaS valuation approach with a 50x price-to-sales multiple. According to their model, the network would need to capture 3% of the global AI agent market by 2030, serving around 950 million agents.

The report presents two scenarios: an optimistic one where $NEAR reaches $562.81 and a bearish one where it falls to $1.63 in the event that centralized giants prevail. The listing gives institutional investors a way to make a long-term bet on whether control of AI will shift from Silicon Valley to decentralized networks.

Bitwise's new product occupies a distinct AI-crypto niche, offering staking of the underlying tokens with a yield of around 5% annually. With $NEAR ranking second worldwide by active addresses, analysts expect the new product to have a chance of eventually matching $XRP's pace of attracting capital.