Bitwise launches first US spot NEAR ETF, plans staking rewards

Bitwise launched the Bitwise NEAR ETF (NRR), the first US spot exchange-traded product providing direct exposure to NEAR. Trading began Sept. 29 on NYSE Arca. The fund charges a 0.75% management fee. Bitwise intends to stake the fund's NEAR holdings in-house. Staking rewards would accrue to shareholders through the fund's net asset value. Bitwise is positioning NEAR as infrastructure for an emerging AI-powered economy. NEAR traded around $4.93 at the time of writing. Its market capitalization was around $6.5 billion.