Bitwise Launches NEAR ETP With Approximately 5% Staking Rate
The NRR product began trading on NYSE Arca on Sept. 29 with a 0.75% management fee and spot exposure to NEAR.
Bitwise launched a U.S.-listed exchange-traded product for NEAR on Sept. 29, giving investors spot exposure to the token while seeking additional NEAR through staking.
The Bitwise NEAR ETP trades on NYSE Arca under the ticker NRR and charges a 0.75% management fee. Its annualized staking rate was approximately 5% as of Sept. 25, although the rate can change and is not guaranteed.
Bitwise plans to stake the fund’s NEAR holdings through its institutional staking team. The product is not registered under the Investment Company Act of 1940, so it does not receive the same protections as conventional registered mutual funds or exchange-traded funds.
The launch also advances Bitwise’s pitch for NEAR as infrastructure for an AI-agent economy, where software agents can make payments, coordinate transactions and move assets across networks. NEAR Intents has processed more than $32 billion in volume, while transactions on the network finalize in approximately 1.2 seconds.
The product’s primary objective is exposure to NEAR’s value, with staking as a secondary objective. Bitwise described the staking rate as a current annualized figure rather than a forecast of NRR’s performance.
