Bitwise launches first US spot NEAR ETF, projects $562.81 in 2030 max case

Bitwise launched the first US spot NEAR ETF under the ticker NRR on NYSE Arca on Tuesday. In a previous research report, Bitwise projected NEAR at $155.85 by the end of 2030 in its base case. Its max case projected $562.81. Its bear case projected $1.63 by 2030 if centralized AI firms dominate. NEAR traded at $5.04 after gaining 175.24% over 30 days, according to BeInCrypto Markets data. CoinGecko ranked that gain fourth among the 100 largest crypto assets by monthly performance. NYSE Arca certified the fund's registration with the SEC on September 28, one day before trading began. NRR charges a 0.75% management fee. Bitwise plans to stake the fund's NEAR in-house, giving shareholders exposure to the network's average staking reward of about 5%. Bitwise presents NEAR as a settlement layer for AI agents that transact for users. The launch announcement says NEAR Intents has processed over $32 billion, up from under $1 billion a year ago. Grayscale filed in January to convert its NEAR trust into an ETF, but that fund has not listed. Bitwise's European NEAR product passed $100 million in assets this month, with rising token prices driving most of the growth. Bitwise is winding down its Dogecoin ETF, BWOW, which stops trading on October 14.