The Bitwise NEAR ETF (NRR) Launches as First Spot NEAR ETP in the U.S., Providing Investors Exposure to the Future of AI Money
The 0.75% management fee reduces the amount of NEAR represented by each share over the fund's life.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Bitwise Asset Management launched the Bitwise NEAR ETF (NRR), a U.S. spot NEAR fund, with trading beginning September 29, 2026.
NRR trades on NYSE Arca and charges a 0.75% management fee. It gives investors exposure through fund shares rather than a direct investment in NEAR, extending Bitwise's NEAR offerings from Europe into the U.S. Bitwise intends to stake the fund's NEAR in-house. Rewards earned by the fund increase its net asset value per share. NEAR's annualized staking reward rate was 5.3% as of September 25, 2026; that rate does not represent the fund's performance, and rewards are not guaranteed.
The fund holds a single asset and is not registered under the Investment Company Act of 1940, so it lacks the protections that law provides to registered funds. Investors could lose their entire investment. Staking also carries the risk of penalties and could impair timely redemption orders.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointNRR launched as a U.S. spot NEAR fund, extending Bitwise's NEAR offerings from Europe.
- Minor point. Forward-looking: it has not happened yet and may not happen.Bitwise intends to stake the fund's NEAR in-house; rewards earned increase net asset value per share.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.The 0.75% management fee reduces the NEAR represented by each share over time.
- Minor point. Forward-looking: it has not happened yet and may not happen.Single-asset holdings expose the fund to NEAR price swings, including potential complete investment loss.
- Minor point1940 Act protections for registered investment companies do not apply to NRR.
- Minor point. Forward-looking: it has not happened yet and may not happen.Staking penalties are possible, and staking could impair timely redemption orders.
News Explained
Fund shares trade at market prices rather than NAV, while the NEAR backing per share is reduced by fees and specified expenses.
The Bitwise NEAR ETF disclosure says the amount of NEAR represented by each share will decline over time as the fund pays its management fee and litigation or other extraordinary expenses, whether the share price rises or falls.
Shares trade at market prices, not net asset value (NAV), and are not individually redeemable from the fund. The release also says NAV may not always match NEAR’s market price, and creation or redemption units may be valued differently from the shares’ market price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
With global agentic commerce projected to reach
NRR is not suitable for all investors. An investment in NRR is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. NRR is not an investment company registered under the Investment Company Act of 1940 (the "1940 Act") and is not subject to the same protections as Mutual Funds or ETFs registered under the "1940 Act". An investment in NRR is not the same as a direct investment in NEAR. Please see additional risks and important information below.
"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."
Among NEAR's most notable characteristics:
- It's built at the intersection of AI and crypto by foundational AI researchers. The team helped shape modern AI; now they're building the transaction layer for AI agents.
- It's growing quickly: NEAR Intents, its transaction protocol, has processed
$32B + in volume, up from under$1B - It's designed for security: NEAR Intents settle cross-chain transactions through smart contracts, avoiding inherent risks of centralized bridges—with quantum-resistant signatures and privacy options built into its products.
- It's made for scale: The NEAR Protocol has operated for six years with
100% uptime, while transactions finalize in ~1.2 seconds and cost a fraction of a cent. - It's economically robust: With over
$6B 2.5% , and core products generate revenue that funds NEAR buybacks.
"NEAR is the vertically integrated stack for the AI + blockchain future: AI is the front end, blockchain is the back end," said Illia Polosukhin, Co-founder of NEAR Protocol. "Private and verifiable AI, blockchain-based security, and universal liquidity via Intents are working together to power the agent economy. The Bitwise NEAR ETF offers a broader base of U.S. investors the opportunity to invest in this vision."
"AI is fundamentally changing how we access information and how economic activity happens," said Hunter Horsley, CEO of Bitwise. "We're moving toward a world in which AI agents increasingly act on our behalf, coordinate with one another, and participate in the economy. We believe this shift—to an agentic economy where more and more happens through AI agents—could unlock an enormous new frontier for the global economy. NEAR is building a platform for that future."
The launch of NRR expands Bitwise's NEAR franchise from Europe—where its BaFin-approved staking ETP already trades—into the
To learn more about NRR, please visit nrretf.com/welcome
Fund details. The Bitwise NEAR ETF will trade on NYSE Arca starting on September 29, 2026, with the ticker NRR. The management fee will be
About Bitwise
Bitwise Asset Management is a global crypto asset manager with more than
Notes
* Source: McKinsey, "The automation curve in agentic commerce," January 28, 2026.
(1) NEAR staking reward rate of
Risks and Important Information
This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit: for NRR, nrretf.com/welcome; for BITB, bitbetf.com/welcome; for ETHW, ethwetf.com/welcome; for BSOL, bsoletf.com/welcome; for XRP, bitxrpetf.com/welcome; for BHYP, bhypetf.com/welcome.
Shares of ETPs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The NAV may not always correspond to the market price of NEAR and, as a result, Creation Units may be created or redeemed at a value that is different from the market price of the Shares. Authorized Participants' buying and selling activity associated with the creation and redemption of Creation Units may adversely affect an investment in the Shares.
The amount of NEAR represented by a Share will continue to be reduced during the life of the Fund due to the transfer of the Fund's NEAR to pay for the Sponsor's management fee, and to pay for litigation expenses or other extraordinary expenses. This dynamic will occur irrespective of whether the trading price of the Shares rises or falls in response to changes in the price of NEAR.
There is no guarantee or assurance that the Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products. Investors may choose to use the Fund as a means of investing indirectly in NEAR. Because the value of the Shares is correlated with the value of the NEAR held by the Fund, it is important to understand the investment attributes of, and the market for, NEAR.
NEAR Risk. There are significant risks and hazards inherent in the NEAR market that may cause the price of NEAR to fluctuate widely. The Fund's NEAR may be subject to loss, damage, theft or restriction on access. Investors considering a purchase of Shares should carefully consider how much of their total assets should be exposed to the NEAR market, and should fully understand, be willing to assume, and have the financial resources necessary to withstand the risks involved in the Fund's investment strategy.
Liquidity Risk. The market for NEAR is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.
Regulatory Risk. Future and current regulations by a U.S. or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Fund.
Blockchain Technology Risk. Certain of the Fund's investments may be subject to the risks associated with investing in blockchain technology. The risks associated with blockchain technology may not fully emerge until the technology is widely used. Blockchain systems could be vulnerable to fraud, particularly if a significant minority of participants colluded to defraud the rest. Because blockchain technology systems may operate across many national boundaries and regulatory jurisdictions, it is possible that blockchain technology may be subject to widespread and inconsistent regulation.
Staking Risk. The Trust intends to implement a staking program under which a significant portion of the Trust's NEAR will be staked. While staking NEAR offers the potential to earn rewards in the form of additional NEAR tokens, it also exposes the Trust to several risks, such as loss of rewards, slashing penalties, and operational uncertainties. Staking activities could impair the ability to satisfy redemption orders on a timely basis.
Nondiversification Risk. The Fund is nondiversified and will hold a single issue. As a result, a decline in the market value of a particular issue held by the Fund may affect the Fund's value more than if it invested in a larger number of issuers.
Recency Risk. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision. If the Fund is not profitable, the Fund may terminate and liquidate at a time that is disadvantageous to Shareholders.
Bitwise Investment Advisers, LLC serves as the sponsor of the Fund. Foreside Fund Services, LLC serves as the Marketing Agent for NRR, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise, or any of its affiliates.
Media Contact
Stephanie Dressler
pr@bitwiseinvestments.com
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SOURCE Bitwise Asset Management
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Will the Bitwise NEAR ETF (NRR) earn staking rewards?
Bitwise intends to stake the fund's NEAR, but rewards are not guaranteed. Rewards earned by the fund increase its net asset value per share. NEAR's annualized staking reward rate was 5.3% as of September 25, 2026; it does not represent NRR's performance.