Bitwise launches what it calls the first US spot NEAR ETF

Bitwise launched the Bitwise NEAR ETF (NYSE: NRR) to give US investors exposure to NEAR Protocol. Bitwise calls it the first spot NEAR exchange-traded product in the US. The fund intends to stake NEAR tokens and pass through the associated rewards. Bitwise cites an approximately 5% staking yield. Bitwise says NEAR Intents has processed more than $32 billion in volume, up from less than $1 billion a year ago. NEAR transactions settle in about 1.2 seconds. NEAR transactions cost a fraction of a cent. The network's annual inflation rate was recently cut to 2.5%. Bitwise points to NEAR's roughly $6 billion market cap. Bitwise also points to NEAR's fully unlocked token supply. Bitwise says a fee mechanism now funds buybacks. Bitwise positions NEAR as a transaction layer for AI agents. Bitwise also highlights NEAR's cross-chain infrastructure.