Bitwise Debuts Staking NEAR ETF on NYSE Arca, Touting the Token as a Bet on AI Agents

Bitwise Launches the First U.S. Spot NEAR ETF: A Bet on AI‑Powered Agents

On September 29, 2026, Bitwise Asset Management added a new spot exchange‑traded product to its U.S. lineup: the Bitwise Staking NEAR ETF (ticker NRR). Trading on NYSE Arca, the fund offers investors exposure to NEAR Protocol’s layer‑1 token while also staking the holdings to generate yield. With a 0.75 % annual management fee, NRR is the first spot NEAR product in the United States, following a similar offering that has already been approved by Germany’s BaFin.

How the Fund Works

• Spot exposure: NRR holds NEAR tokens directly, giving shareholders a straightforward way to gain price exposure without buying the token on a crypto exchange.
• Staking strategy: Bitwise’s institutional staking team will lock the fund’s NEAR in the network. According to on‑chain data, the annualized staking reward rate was 5.3 % as of September 25.
• Fee structure: Of the staking rewards, 33 % is allocated to staking agents, the custodian, and Bitwise itself. The remaining 67 % is credited to the fund’s net asset value, though the rewards are not guaranteed.
• Risk disclosures: The prospectus warns that staking exposes the fund to slashing penalties and could delay redemptions, and the product is not registered under the Investment Company Act of 1940.

Bitwise’s AI‑Agent Narrative

Bitwise frames NEAR as the settlement layer for the next generation of software agents that will handle tasks like booking, payments, and trading on users’ behalf. Chief Investment Officer Matt Hougan highlighted that as these agents proliferate, the world will need fast, trustworthy infrastructure that does not rely on a single custodian. He cited NEAR’s cross‑chain protocol, Intents, which has processed more than $32 billion in volume—a dramatic increase from under $1 billion a year earlier.

Co‑founder Illia Polosukhin described NEAR as “the vertically integrated stack for the AI + blockchain future,” underscoring the network’s role as the back‑end for AI‑driven front‑ends. The token’s market cap exceeds $6 billion, its supply is fully unlocked, and the inflation rate has recently been cut to 2.5 %. Revenue from core products is earmarked for token buybacks, adding a potential upside for holders.

Positioning Within Bitwise’s Altcoin Suite

NRR joins a growing list of single‑asset U.S. ETFs that Bitwise offers, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and the recently launched Hyperliquid‑based HYPE (BHYP). The HYPE fund attracted about $153 million in net inflows in its first month, demonstrating investor appetite for spot crypto products.

By adding NEAR, Bitwise expands its altcoin coverage and signals confidence in the network’s role in the emerging AI ecosystem. The product also mirrors the European staking ETP, showing Bitwise’s strategy to roll out similar offerings across jurisdictions.

Practical Takeaways for Investors

1. Diversify with a regulated vehicle: NRR provides a U.S.‑regulated way to own NEAR, avoiding the custody and security risks of direct crypto holdings.
2. Earn staking yield: The fund’s staking strategy can boost returns, though the net yield will be reduced by the 33 % fee split.
3. Beware of risks: Staking introduces slashing risk and potential redemption delays; investors should review the prospectus carefully.
4. Watch the AI narrative: Bitwise’s positioning of NEAR as an AI settlement layer may influence the token’s long‑term demand, especially as AI agents become more mainstream.

In summary, Bitwise’s NRR offers a regulated, yield‑generating exposure to NEAR, packaged with a forward‑looking narrative that ties the token to the future of AI‑driven services.

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TL;DR: Bitwise’s new NRR ETF gives U.S. investors regulated spot exposure to NEAR, plans to stake the token for yield, and markets it as the settlement layer for AI agents.