The new Near ETF
Bitwise officially kicked off trading for its new Near ETF on Tuesday, marking the first time U.S. investors can access a spot Near fund through a regular brokerage account. The fund, which trades on the NYSE Arca under the ticker NRR, holds actual Near tokens rather than futures contracts. By holding the asset directly, it aims to simplify the process for those who want to avoid the hassle of managing crypto wallets or exchange accounts.
The AI connection
Why Near? Bitwise is leaning hard into the blockchain's AI-centric narrative. Co-founded by Illia Polosukhin—a key architect behind the technology powering ChatGPT—the Near project launched an AI research lab last year. Bitwise CEO Hunter Horsley stated, “We’re moving toward a world in which AI agents increasingly act on our behalf,” noting that the firm sees massive potential in an "agentic economy" where Near serves as a core infrastructure layer.
Staking and risks
The NRR fund charges an annual fee of 0.75%. To sweeten the deal, Bitwise plans to stake the fund's holdings to earn network rewards, which they estimate could be around 5%. These rewards would reflect in the share price.
Real talk: this is still crypto, so don't get it twisted. While Near has seen a major pump since August, it is still down roughly 75% from its all-time high of $20. Bitwise has also issued standard warnings that the fund carries risk, including the possibility of "slashing" penalties during staking and the reality that you could lose your entire bag. This is definitely not financial advice.
Why it matters
As the "agentic economy" grows, infrastructure plays like Near are becoming highkey central to the conversation. By making this asset available in a traditional ETF wrapper, Bitwise is bridging the gap for retail investors who want to bet on the future of AI-blockchain integration without diving into the deep end of on-chain management.
