Bitwise to Launch First US Spot NEAR ETP With Staking Yield
Summary
- Bitwise said it will list the Bitwise NEAR ETF (NRR), the first spot NEAR exchange-traded product (ETP) in the US.
- NRR is designed to invest in the spot price of NEAR while reflecting staking yield, and carries an annual management fee of 0.75%.
- Bitwise said the product offers a way to access NEAR's growth potential, citing rising transaction activity on NEAR and NEAR Intents, as well as potential use cases tied to AI agents.
Forecast Trend Report by Period
Global digital-asset manager Bitwise is launching the first US spot exchange-traded product tied to NEAR Protocol.
The Bitwise NEAR ETF, trading under the ticker NRR, will begin trading on NYSE Arca on Sept. 29, the company said. The annual management fee is 0.75%.
NRR is designed to track NEAR's spot price while also reflecting staking yield. Bitwise plans to manage the fund's NEAR holdings through its in-house institutional staking team. NEAR's annual staking reward rate is currently about 5%.
Bitwise is focused on NEAR's potential use in payments between artificial intelligence agents and in blockchain-based automated trading infrastructure. NEAR Intents, the network's transaction protocol, has processed more than $32 billion in cumulative transaction volume, up from less than $1 billion a year earlier.
Matt Hougan, Bitwise's chief investment officer, said fast and reliable payment infrastructure will be needed in an environment where AI agents carry out payments and trading. He added that NRR gives investors a way to access that growth potential.
The launch adds NEAR to Bitwise's lineup of single-asset crypto products, which already includes Bitcoin, Ether, Solana, XRP and Hyperliquid.
