NEAR ETF Surpasses $52.8 Million in Assets After Two Days
The Bitwise NEAR ETF (NRR) made a successful debut on the NYSE Arca, with its assets under management (AUM) exceeding $52.8 million just two days after its launch.
According to Bitwise's CIO, Matt Hougan, the fund's initial performance is a 'strong launch.' On its second trading day, the fund recorded net inflows of $13.2 million, with a total trading volume of $20.1 million.
The fund offers Wall Street direct exposure to the NEAR token with built-in staking, generating an annual yield of around 5% and increasing the net asset value (NAV) of investors' holdings.
The capital inflows on the second trading day were driven by an accompanying 40-page report, which proposed valuing NEAR Protocol as a global settlement hub for autonomous AI agents.
The report outlined two scenarios for the asset's future: a bull case of $562.81 by 2030 and a bear case of $1.63. The bull case assumes the network captures 3% of the global AI agent market, while the bear case assumes centralized giants retain a monopoly on the AI market.