Key Takeaways
- • Bitwise's spot NEAR ETF, launched September 29, 2026, holds about 15.7 million NEAR tokens valued at $79.2 million two weeks after launch, according to Pluang.
- • The fund attracted $35.5 million on its first day and $52.8 million by the end of its first week, signaling strong investor demand.
- • The ETF holds NEAR tokens directly rather than through futures and plans to stake a significant portion to earn rewards, which could offset its 0.75% management fee.
- • The launch gives US investors regulated, direct exposure to NEAR, a token whose project is focused on AI infrastructure and cross-chain capabilities.
Summary
Bitwise launched the first US spot NEAR ETF on September 29, 2026. Per Pluang's report, the fund now holds about 15.7 million NEAR tokens valued at $79.2 million, two weeks after its debut. The product drew $35.5 million in its first day of trading and reached $52.8 million in inflows by the end of its first week, figures that point to meaningful early demand from US investors.
Unlike futures-based crypto products, the ETF directly holds NEAR tokens. The fund plans to stake a significant portion of its holdings to earn staking rewards, which could partially offset its 0.75% management fee. For allocators evaluating the vehicle, the staking component is the key differentiator from a simple price-tracking structure, though the report does not quantify expected yields.
The launch coincides with NEAR's strategic emphasis on AI infrastructure and cross-chain capabilities. Pluang's report also noted that the broader crypto market was weak on October 15, 2026, with 43 of 50 major tokens tracked on its platform declining, though NEAR was not among the notable movers cited in the article.
Unlike futures-based crypto products, the ETF directly holds NEAR tokens. The fund plans to stake a significant portion of its holdings to earn staking rewards, which could partially offset its 0.75% management fee. For allocators evaluating the vehicle, the staking component is the key differentiator from a simple price-tracking structure, though the report does not quantify expected yields.
The launch coincides with NEAR's strategic emphasis on AI infrastructure and cross-chain capabilities. Pluang's report also noted that the broader crypto market was weak on October 15, 2026, with 43 of 50 major tokens tracked on its platform declining, though NEAR was not among the notable movers cited in the article.
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