Key Takeaways
- • Bitwise launched the Bitwise NEAR ETF (NYSE Arca: NRR) on September 29, 2026, described as the first U.S. spot NEAR ETP, with a 0.75% management fee.
- • The fund will provide spot exposure to NEAR and intends to stake its NEAR in-house, targeting NEAR's average staking rewards of roughly 5%, per the sponsor's annualized rate as of September 25, 2026.
- • Bitwise expands its NEAR franchise from Europe, where its BaFin-approved staking ETP already trades, into the U.S., joining its Bitcoin, Ethereum, Solana, XRP and Hyperliquid single-asset ETPs.
- • Per trade-day reports cited in the publisher context, NRR drew $35.5 million on its first day of trading, though the fund carries significant volatility, liquidity and staking risks.
- • Bitwise, which manages $9 billion in client assets as of June 30, 2026, positions NEAR Intents, with $32B+ in processed volume, as the settlement layer for AI agent transactions.
Summary
Bitwise Asset Management, a global crypto asset manager with $9 billion in client assets as of June 30, 2026, announced the launch of the Bitwise NEAR ETF (NYSE: NRR), which began trading on NYSE Arca on September 29, 2026. The fund is designed to give investors spot exposure to NEAR, a blockchain infrastructure network that Bitwise positions as a foundation for an AI-driven economy. The management fee is 0.75%. According to the sponsor's publisher materials, NRR is the first U.S. spot NEAR exchange-traded product.
Bitwise intends to stake the fund's NEAR tokens in-house through its institutional staking team, aiming to capture NEAR's average staking rewards of approximately 5%. The sponsor notes that this rate is based on the annualized current rate as of September 25, 2026, using official NEAR Protocol onchain metrics, and that rewards are not guaranteed and do not represent fund performance. Staking rewards accrue to shareholders through an increase in net asset value per share. Bitwise also flags that the tax treatment of such rewards may have adverse consequences for shareholders.
Bitwise CIO Matt Hougan said NEAR sits at the intersection of AI and crypto, arguing that AI agents will require settlement infrastructure that is fast and does not depend on a single custodian. He cited NEAR Intents, the network's transaction protocol, which has processed more than $32 billion in volume, up from under $1 billion a year earlier. NEAR co-founder Illia Polosukhin and Bitwise CEO Hunter Horsley also commented on the launch, with Horsley describing an agentic economy in which AI agents transact on users' behalf.
The fund is not registered under the Investment Company Act of 1940, and the sponsor warns of substantial risks, including NEAR price volatility, illiquidity in a developing market, staking risks such as slashing penalties, regulatory uncertainty, and the fund's nondiversified single-asset structure. The fund is also recently organized, with a limited track record. Bitwise Investment Advisers, LLC is the sponsor, and Foreside Fund Services serves as marketing agent.
Bitwise intends to stake the fund's NEAR tokens in-house through its institutional staking team, aiming to capture NEAR's average staking rewards of approximately 5%. The sponsor notes that this rate is based on the annualized current rate as of September 25, 2026, using official NEAR Protocol onchain metrics, and that rewards are not guaranteed and do not represent fund performance. Staking rewards accrue to shareholders through an increase in net asset value per share. Bitwise also flags that the tax treatment of such rewards may have adverse consequences for shareholders.
Bitwise CIO Matt Hougan said NEAR sits at the intersection of AI and crypto, arguing that AI agents will require settlement infrastructure that is fast and does not depend on a single custodian. He cited NEAR Intents, the network's transaction protocol, which has processed more than $32 billion in volume, up from under $1 billion a year earlier. NEAR co-founder Illia Polosukhin and Bitwise CEO Hunter Horsley also commented on the launch, with Horsley describing an agentic economy in which AI agents transact on users' behalf.
The fund is not registered under the Investment Company Act of 1940, and the sponsor warns of substantial risks, including NEAR price volatility, illiquidity in a developing market, staking risks such as slashing penalties, regulatory uncertainty, and the fund's nondiversified single-asset structure. The fund is also recently organized, with a limited track record. Bitwise Investment Advisers, LLC is the sponsor, and Foreside Fund Services serves as marketing agent.
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