Bitwise Introduces First U.S. Spot NEAR ETF Amid Price Surge

Overview

• Bitwise has introduced its NEAR ETF on NYSE Arca under the ticker NRR, marking the first spot NEAR product in the U.S. with a 0.75% management fee.
• On launch day, NEAR's price surged to around $5.09, recovering from a low of $1.60 in August.
• The ETF aims to stake NEAR holdings for potential rewards of about 5%, which are not guaranteed.

Bitwise's NEAR ETF debuted on Tuesday, providing U.S. investors a new avenue to invest in the NEAR blockchain without needing a crypto exchange account. Trading under the ticker NRR on NYSE Arca, the fund charges an annual management fee of 0.75% and is touted as the first spot NEAR ETF in the U.S., meaning it holds actual NEAR tokens instead of relying on futures contracts.

This launch comes at a time of significant price appreciation for NEAR, which has nearly tripled since its August low. The token is currently valued at over $5, representing a market capitalization of approximately $6.5 billion, although it remains down about 75% from its all-time high of over $20.

NEAR operates as a layer-1 blockchain, akin to Ethereum and Solana, and was launched in 2020. Co-founder Illia Polosukhin, a significant contributor to AI technology, heads an AI research lab established by NEAR earlier this year. The project aims to leverage AI agents to enhance user experiences in various applications.

Bitwise plans to stake NEAR tokens to earn rewards that could increase the fund’s value, but investors should be aware of the associated risks, including potential penalties for validators and the concentrated risk of holding a single asset.

Bitwise had filed for the NEAR fund back in April 2025, when the token was valued at $2.61. Following the SEC's approval of broader listing standards in September 2025, the path for crypto ETF launches has become less cumbersome, leading to a wave of new products entering the market.