Bitwise Launches First US Spot NEAR ETF to Capture AI-Crypto Growth

Bitwise Asset Management is expanding its suite of single-asset crypto products with the launch of the Bitwise NEAR ETF on NYSE Arca. The fund provides U.S. investors with spot exposure to the NEAR blockchain and its growing AI-focused ecosystem, while uniquely incorporating in-house staking to capture rewards for shareholders in a regulated vehicle.

What was announced

The Bitwise NEAR ETF (NRR) is scheduled to begin trading on NYSE Arca on September 29, 2026. This fund is designed to offer investors direct spot exposure to NEAR, the native token of a blockchain infrastructure increasingly positioned as a settlement layer for the emerging AI economy. A defining feature of the ETF is its inclusion of staking rewards; Bitwise intends to stake the fund’s NEAR tokens through its own institutional staking team, targeting the network’s average rewards of approximately 5%. The fund carries a management fee of 0.75%.

The NEAR Protocol itself presents several key metrics that underpin the fund’s thesis. The network has maintained 100% uptime over six years of operation, with transactions typically finalizing in 1.2 seconds at minimal cost. Its primary transaction protocol, NEAR Intents, has seen significant growth, processing over $32 billion in volume compared to less than $1 billion just one year prior. From an economic standpoint, NEAR has a market capitalization exceeding $6 billion with a fully unlocked supply. Recent protocol changes have halved inflation to 2.5%, while core products generate revenue used for token buybacks. This launch follows Bitwise’s existing NEAR franchise in Europe, which includes a BaFin-approved staking ETP.

"NEAR sits at the intersection of two of the biggest trends in technology: AI and crypto," said Matt Hougan, Chief Investment Officer of Bitwise. "As AI agents start transacting on our behalf—booking, paying, swapping, and more—the world is going to need settlement infrastructure that's fast, trustworthy, and doesn't depend on a single custodian. NEAR's flagship product, NEAR Intents, is already showing what that looks like in practice, and we think NRR gives investors a straightforward way to get exposure to that build-out before it goes mainstream."

Matt Hougan, Chief Investment Officer of Bitwise

The companies involved

Bitwise Asset Management is a prominent global crypto asset manager that, as of June 30, 2026, oversaw approximately $9 billion in client assets. The firm has established a significant footprint in the U.S. exchange-traded product (ETP) market, with a lineup that includes the Bitwise Bitcoin ETF (BITB), Bitwise Ethereum ETF (ETHW), and more specialized offerings like the Bitwise Solana ETF (BSOL), Bitwise XRP ETF (XRP), and the Bitwise Hyperliquid ETF (BHYP). Led by Cofounder and CEO Hunter Horsley, the firm has positioned itself as a bridge between traditional finance and the digital asset ecosystem.

The NEAR Protocol is a decentralized development platform designed to provide the performance and security required for high-scale applications, particularly those involving artificial intelligence. Co-founded by Illia Polosukhin, a researcher who contributed to foundational AI developments, the protocol focuses on creating a "vertically integrated stack" where AI serves as the user interface and blockchain provides the backend settlement. The network emphasizes universal liquidity and cross-chain transactions through smart contracts, moving away from the centralized bridge models that have historically introduced security risks to the sector.

What FF News has reported before

FF News has closely followed the expansion of both Bitwise and the NEAR ecosystem. In September 2026, we covered how Bitwise Debuts PAPY Vault to Deliver Institutional Real-World Asset Yields Onchain, marking a significant move into the real-world asset space. Regarding NEAR’s technical infrastructure, FF News reported on the integration of its "Intents" technology, including how Aurora Intents Integrates with COCA to Simplify Cross-Chain Funding for 1M Crypto Bank Users and Solflare Launches 'Bridge' to Enable Seamless Multi-Chain Transfers to Solana via Aurora Intents. These developments highlighted the protocol's focus on cross-chain liquidity. Additionally, the institutional maturation of the network was signaled as early as 2023 when Northstake to Become a NEAR Protocol Validator, a move that preceded the current push for institutional staking products.

What this means

The launch of NRR represents a significant maturation of the "AI-crypto" narrative, moving it from speculative retail trading into the regulated U.S. brokerage environment. By incorporating in-house staking, Bitwise is challenging the traditional ETF model where underlying assets often sit idle; this puts pressure on other issuers to offer yield-bearing crypto products rather than simple spot exposure. However, the success of this vehicle hinges on whether institutional investors view NEAR as a fundamental infrastructure play or merely a high-beta bet on AI. The industry will be watching closely to see if the regulatory stance on staking within ETFs has fully thawed, potentially opening the door for similar products across the "Alt-L1" sector.