AI Agent · Cointelegraph
Bitwise launches first US spot NEAR ETF after token’s recent surge
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Bitwise’s NEAR ETF begins trading on NYSE Arca as the token rallies more than 160% over the past month and activity on NEAR Intents grows.
Key facts
- The launch comes as activity on NEAR Intents, the network’s cross-chain transaction protocol, has increased sharply, with volume rising to more than $32 billion compared with less than $1 billion
- The protocol’s role in moving assets across blockchains came into focus this week after NEAR Intents said it blocked more than $50 million in attempted transfers linked to the $387.5 million Bitget
- The NEAR token has rallied sharply over the past month, gaining about 167% to trade around $4.94 on Tuesday, according to CoinGecko data
- NEAR is a layer-1 blockchain for decentralized applications that shifted its strategy toward AI in 2024 and has since focused increasingly on cross-chain infrastructure and autonomous AI agents
Summary
Crypto asset manager Bitwise has launched the first US spot exchange-traded product tracking NEAR, giving investors exposure to the token through a fund trading on NYSE Arca. The Bitwise NEAR ETF, trading under the ticker NRR, carries a 0.75% management fee and will hold NEAR directly, with Bitwise intending to stake a significant portion of the fund’s tokens. The launch comes as activity on NEAR Intents, the network’s cross-chain transaction protocol, has increased sharply, with volume rising to more than $32 billion compared with less than $1 billion a year ago, according to Bitwise. Bitwise chief investment officer Matt Hougan told Cointelegraph that the firm sees AI agents as a growing use case for NEAR and has already seen evidence of agents using the network.