Bitwise Launches First Spot NEAR ETF in the United States

Bitwise has launched the first spot NEAR exchange-traded fund (ETF) in the U.S., trading on the NYSE Arca under the ticker NRR. The fund, which carries a 0.75% management fee, will hold NEAR tokens and plans to stake a significant portion of its holdings. Bitwise CIO Matt Hougan attributed the launch to the surge in trading volume on the NEAR Intents cross-chain protocol, which has grown to over $32 billion, driven by AI agent use cases.