# Bitwise’s Base Case Values NEAR at $155.85 for Year-End 2030

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24867
Published: 2026-09-28T11:21:27.000Z
Updated: 2026-09-28T11:21:27.000Z
Section: Investing

> The model ranges from $1.63 in the Bear Case to $562.81 in the Max Case, while Bitwise’s NEAR ETF has cleared NYSE Arca listing approval without a confirmed trading date.

Bitwise’s Base Case values NEAR Protocol (NEAR) at $155.85 at year-end 2030, while its exchange-traded fund has cleared NYSE Arca listing approval without a confirmed first trading date.

The 40-page “The Investment Case for NEAR” lays out three modeled outcomes tied to NEAR’s potential role in coordinating artificial intelligence agents and settling transactions across blockchain networks. The Bear Case assigns NEAR a value of $1.63, while the Max Case reaches $562.81.

The Base Case assumes NEAR captures 2% of a projected 16.40 billion-agent global market, equal to 328 million agents. Each agent would conduct 1,000 transactions annually at an average value of $5.

That scenario uses a modeled protocol fee of 0.3%, along with $11.67 million in projected agent-infrastructure revenue, $89.67 million in model revenue and a 50-times valuation multiple. The calculation uses an assumed circulating supply of 1.61 billion NEAR.

The Max Case assumes a 3% share of a projected 31.68 billion-agent market, or 950.40 million agents. It models 1,250 transactions per agent each year at an average value of $5 and compares the resulting activity with Visa’s $15.7 trillion payment volume in 2024 and $701 billion market capitalization at the time of the analysis.

NEAR currently does not charge a fee on intent volumes. The 0.3% figure is a future modeling assumption rather than an existing protocol charge. The scenarios depend on commercial adoption of decentralized AI agents and the development of protocol revenue from intent routing, infrastructure and model execution.

The Bear Case assumes centralized AI platforms dominate agent coordination and NEAR Intents expands only to a limited extent. Bitwise presents NEAR as infrastructure positioned between AI and blockchain.

Separately, Bitwise’s NEAR ETF is registered for listing on NYSE Arca under the ticker NRR. A Sept. 24 Form 8-A filing states that the exchange approved the listing application, but no first trading date has been announced.

The prospectus sets the trust’s sponsor fee at 0.75% annually on its NEAR holdings. It says the trust will stake “some or all” of those holdings and charge staking-related expenses equal to 33% of additional NEAR generated through staking.

More details are available in earlier coverage of the fund’s listing approval.

## Links in this article

- [earlier coverage of the fund’s listing approval](https://www.tokenpost.com/news/investing/24555)