Bitwise has launched the Bitwise NEAR ETF, giving U.S. investors spot exposure to NEAR through the first U.S. spot exchange-traded fund tied to the token. The fund, listed on NYSE Arca, began trading on September 29 under the ticker NRR, holds NEAR directly rather than derivatives, and charges a 0.75% management fee, according to Bitwise's official announcement. Spot products of this kind back their shares with the underlying token held in reserve, setting them apart from futures-based funds that track derivatives contracts.

Bitwise Expands Its Single-Asset ETF Lineup

NRR extends Bitwise's range of single-asset crypto products, which already includes funds tied to Bitcoin, Ethereum, Solana, XRP, and Hyperliquid. The new listing arrives amid U.S. demand for regulated crypto products, and it reflects a broader shift in which the U.S. ETF market has expanded from its original spot Bitcoin funds toward a widening roster of single-token products.

The debut follows a strong stretch for the underlying token. NEAR recently climbed above $4 after a sharp September rally, gaining roughly 80% in a single week as traders monitored network activity, NEAR Intents, and newly introduced privacy-focused trading tools.

Staking Rewards Flow Through the Fund's NAV

Bitwise plans to stake a large share of the fund's NEAR holdings through its internal staking team. Rewards earned by the trust will accrue to shareholders through changes in the fund's net asset value, although staking rewards can fluctuate and are not guaranteed. That design means staking income shows up in the fund's share value rather than as separate token payouts, in contrast with direct staking, where rewards typically arrive as additional tokens in a wallet. Staking features also represent a newer development among U.S.-listed crypto funds, since the first spot Bitcoin ETFs launched without staking their holdings.

NEAR runs on a proof-of-stake network in which token holders help process transactions and support decentralized applications, earning rewards for securing the system. The structure allows NRR to combine spot token exposure with staking income while sparing investors from directly handling tokens, wallets, or validator operations.

Launch Lands in a Busy Crypto ETF Market

Crypto ETF activity has stayed active well beyond NEAR. U.S. Solana funds posted their strongest weekly inflow between September 21 and September 25, drawing $188.21 million for the week, with Bitwise's BSOL capturing most of that total, according to Blockonomi's coverage.

The fund market gives asset managers a channel for offering single-token exposure through regulated exchanges. NRR brings NEAR into that market while keeping the fund's investment focus limited to the token and its related staking rewards. Whether demand seen for established altcoin funds carries over to a newer ticker like NRR is among the data points market watchers can track as the fund builds a trading record.

Bitwise Positions NEAR for an AI-Driven Economy

Bitwise is also framing NEAR as blockchain infrastructure for transactions involving AI agents. Chief Executive Hunter Horsley has said AI agents may increasingly carry out economic tasks and interact with one another, and the company views NEAR as a network built for that type of activity. The framing ties the fund to a wider industry discussion about machine-to-machine payments, in which blockchains are positioned as potential settlement for autonomous software.

Recent market coverage showed NEAR rising while Bitcoin held above $81,000, with usage of NEAR Intents also increasing. That activity preceded NRR's trading debut and placed NEAR among the stronger large-cap crypto performers during September.

NEAR traded near $4.93 at the time of writing, with a market capitalization of roughly $6.5 billion. NRR now provides U.S. market participants with another exchange-traded route to gaining exposure to the token without buying, storing, or managing NEAR directly. Beyond the debut itself, the metrics to watch include NRR's early trading volumes and the portion of its NEAR holdings that Bitwise ultimately stakes.

Based on reporting by Blockonomi.