NEAR Gets First US Spot ETF Listing Amid Rapid Price Growth
Bitwise has launched the first U.S. spot exchange-traded fund (ETF) for NEAR, giving investors exposure to its price without buying the token directly.
The product, which began trading on NYSE Arca under the ticker 'NRR', comes as NEAR's price has risen about 167 percent over the past month and traded around $4.94 on September 29th, according to CoinGecko.
Bitwise highlighted growth in the cross-chain transaction protocol 'NEAR Intents', which processes transactions across multiple blockchains, with its transaction volume rising from under $1 billion a year ago to more than $32 billion recently.
Matt Hougan, Bitwise's chief investment officer, explained that cross-chain usability is a key driver of NEAR's growth and said AI agents could become a new use case for the network.