Bitwise Launches NEAR ETF With 5% Yield and an AI Bet

Why Bitwise Is Bringing NEAR to Wall Street

Bitwise is taking the AI-meets-crypto trade to the U.S. ETF market.

The asset manager launched the Bitwise NEAR ETF, trading under the ticker NRR on NYSE Arca from Sept. 29. The fund provides spot exposure to NEAR and is expected to stake its holdings through Bitwise’s institutional staking team.

Bitwise is targeting participation in NEAR’s average staking rewards of around 5%, giving investors potential income alongside any appreciation in the token. The management fee is 0.75%.

The launch expands Bitwise’s U.S. single-asset crypto lineup, which already includes products tied to bitcoin, ether, solana, XRP, and Hyperliquid’s HYPE.

Bitwise Is Selling NEAR as an AI Infrastructure Play

The investment case is built around NEAR’s role in autonomous digital commerce.

“NEAR sits at the intersection of two of the biggest trends in technology: AI and crypto,” said Matt Hougan, Bitwise’s chief investment officer.

Bitwise points to Near Intents, a transaction protocol designed to help users and software agents execute cross-chain transactions. The product has processed more than $32 billion in volume, up from less than $1 billion a year ago.

Near transactions finalize in roughly 1.2 seconds, according to Bitwise, while the network has maintained 100% uptime during six years of operation. The protocol also recently cut inflation to 2.5%, while some ecosystem revenue is used to fund NEAR buybacks.

Staking Adds Another Layer to the ETF

NRR differs from a simple spot product because Bitwise intends to stake the fund’s NEAR holdings in-house. That gives investors exposure not only to NEAR’s market price, but also to rewards generated by helping secure the network.

For institutions and advisers, that structure could make staking-based crypto exposure easier to access through traditional brokerage accounts.

Still, Bitwise warns that NRR carries substantial volatility and could result in significant or complete loss. The fund is also not registered under the Investment Company Act of 1940 and does not receive the same protections as conventional mutual funds or ETFs.

AI Agents Become the Bigger Bet

Near co-founder Illia Polosukhin described the network as a vertically integrated stack where “AI is the front end, blockchain is the back end.”

Bitwise CEO Hunter Horsley framed the opportunity even more broadly, arguing that AI agents will increasingly transact, coordinate, and participate in the economy on users’ behalf.

That is the real thesis behind NRR.

The ETF is not simply another altcoin wrapper. It is a public-market bet that AI agents will need neutral settlement infrastructure, programmable payments and cross-chain liquidity.

If that economy develops at the scale Bitwise expects, then Near is positioning itself as one of the crypto networks built to power it.