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What happened
Bitwise has launched the Bitwise NEAR ETF (ticker NRR) on NYSE Arca — the first US spot exchange-traded product tied to NEAR Protocol’s native token. Trading began on Tuesday, September 29, 2026, after NYSE Arca certified the fund’s registration with the SEC on September 28.
Key details:
- 0.75% annual management fee, paid in NEAR
- Bitwise intends to stake the fund’s NEAR holdings in-house, with staking rewards accruing to shareholders through the fund’s NAV — NEAR’s staking reward rate is roughly 5% annually
- Custody via Coinbase Custody, with BNY Mellon handling cash and administration
- 10,000-share creation baskets; a $500,000 seed basket (20,000 shares at $25)
The launch lands after NEAR’s explosive month: the token has gained about 175% over the past month, rising from below $2 at the start of September to around $5.04, ranking fourth among the top 100 crypto assets by monthly performance (CoinGecko, via reporting). Grayscale filed in January to convert its own NEAR trust into an ETF, but Bitwise reached US investors first. NRR joins Bitwise’s single-asset lineup, which includes BITB (Bitcoin), ETHW (Ethereum), BSOL (Solana), XRP and BHYP (Hyperliquid).
Why it matters
This extends the regulated spot-crypto ETF wave into mid-cap layer-1 tokens — with staking yield built directly into the structure. The staking design differentiates NRR from plain price-tracking funds, making it the first US spot product to launch with staking accrual baked in. Bitwise is positioning NEAR as payment infrastructure for AI agents, an aggressive thesis that now gets a daily market verdict from US investors.
What to watch
- First-week trading volume and premium/discount to NAV
- Whether in-house staking accrual meaningfully lifts fund NAV over time
- Whether rival issuers accelerate altcoin ETF filings now that staking-in-ETF has launched
- NEAR Intents cumulative volume ($32B) as a fundamentals cross-check
Related reading: NEAR ETF Gets Green Light: Bitwise’s Spot Fund Cleared to List on NYSE Arca
Sources
- The Block: Bitwise launches first US spot NEAR ETF with staking rewards
- TradingView (The Block): Bitwise launches first US spot NEAR ETF
- BigGo Finance: Bitwise launches first US spot NEAR ETF with staking rewards
- CryptoCompass: NEAR price rises as Bitwise debuts first US spot ETF
Auto-posted by the Bull Lounge news desk.
Not financial advice.
Would you buy a staking-yield crypto ETF like NRR, or do you prefer holding the token directly?
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