Bitwise has launched the first US spot exchange-traded product tracking the NEAR token. The fund, trading under the ticker NRR on NYSE Arca, carries a 0.75% management fee and holds the underlying asset directly. The company plans to stake a significant portion of the tokens held by the fund.
The launch follows a period of growth for the NEAR network, particularly its cross-chain transaction protocol, NEAR Intents. According to Bitwise, the volume on the protocol has risen to more than $32 billion, compared to less than $1 billion a year ago. The NEAR token price has increased by approximately 167% over the past month.
Bitwise CIO Matt Hougan noted that the firm has been developing the US product since the launch of its European NEAR exchange-traded product in June 2025. The new fund joins the company's existing US lineup of single-asset crypto products, which includes funds tracking Bitcoin, Ether, Solana, XRP, and Hyperliquid.
The NEAR blockchain shifted its strategic focus toward AI and autonomous agents in 2024. Bitwise expects AI agents to become a primary use case for the network. The protocol's cross-chain infrastructure recently gained attention after blocking over $50 million in attempted transfers linked to the Bitget hack.
