13h ago

Bitwise launches NEAR Protocol ETF NRR as first U.S. spot NEAR ETP, drawing $36 million in AUM

AI Market Summary

Bitwise's spot NEAR ETP (NRR) launch in the U.S. is a material milestone for institutional access, with strong day-one AUM ($36M) and net inflows ($35.5M). The structure holds NEAR directly and may add staking rewards, potentially supporting demand, though fees and staking variability matter. Subsequent profit-taking and a pullback highlights event-driven positioning and sensitivity of flows to broader crypto risk appetite.

Impact level

● High

Affected assets

NEAR/USDT+8.64%

AI Insight · NEAR/USDTAI Insight

▲ Bullish

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The first U.S. spot NEAR exchange-traded product, the Bitwise NEAR ETF (NRR), has begun trading. Day-one figures show $36 million in assets under management, $35.5 million in net inflows and $15.1 million in volume. The fund is custodied by Coinbase Custody Trust Company and charges a 0.75% annual management fee. After an upbeat debut, profit-taking pushed NEAR back to around $4.65.

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