- Near (NEAR) is a layer-1 blockchain positioned by Bitwise around artificial intelligence and AI agents.
- Bitwise’s Near fund, identified by the ticker NRR, is designed to stake tokens and pass staking rewards to shareholders.
- Near trades just above $5 with a market capitalization of about $6.5 billion, but remains roughly 75% below its all-time high.
Bitwise’s Near Fund Highlights AI and Staking
Bitwise’s Near fund gives investors exposure to NEAR through a brokerage account rather than requiring them to open a crypto exchange account or manage a digital wallet. Like other exchange-traded funds, an ETF is bought and sold like a stock, while the underlying tokens remain held inside the fund.
The fund’s timing follows a sharp recovery in Near’s price since May. NEAR rose 28% in 24 hours in May after the network highlighted privacy, artificial intelligence and scaling upgrades, although the token later fell back toward $2 during the summer. NEAR currently trades for just above $5 and has a market capitalization of approximately $6.5 billion. Despite the rebound, it remains about 75% below its all-time high of more than $20.
What Is Near (NEAR)?
Near is a layer-1 blockchain, meaning it is a base network on which other applications can be built. It operates in the same broad category as Ethereum and Solana, and its main network went live in 2020.
Near’s artificial-intelligence focus is linked to co-founder Illia Polosukhin, who was a co-creator of the Transformer architecture used by ChatGPT-style models. Near launched an AI research lab in May 2024 under the leadership of Polosukhin and co-founder Alex Skidanov.
Bitwise’s investment case centers partly on AI agents—software capable of taking actions on a user’s behalf, such as paying for goods or booking travel. Bitwise CEO Hunter Horsley said in a statement:
“We’re moving toward a world in which AI agents increasingly act on our behalf, coordinate with one another, and participate in the economy,” Bitwise CEO Hunter Horsley said in a statement. “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.”
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Bitwise also points to Near Intents, a service that enables asset swaps across different blockchains. The company says Near Intents has processed more than $32 billion in volume.
How NRR Staking Rewards Work
Bitwise’s fund also stakes NEAR tokens. Staking involves locking tokens to help validate blockchain transactions; in return, the network distributes rewards, generally in additional tokens. Bitwise says its in-house team will stake the fund’s Near holdings, targeting average rewards of about 5%. Those rewards are expected to accrue to shareholders through an increase in the fund’s value per share.
The staking return is not guaranteed. Bitwise’s disclosures state that rewards can change and that staking involves “slashing” risk, which refers to penalties imposed when a validator violates network rules. The fund is also concentrated in a single asset, and Bitwise warns that investors could lose a significant portion or all of their investment.
Near ETF Filings and Crypto Fund Rules
Bitwise filed Delaware paperwork for a Near fund in April 2025, when NEAR traded at $2.61. Grayscale followed in January 2026 by filing to convert its existing Near trust into an ETF; at that time, NEAR was trading at approximately $1.54.
The regulatory path became more straightforward in September 2025, when the U.S. Securities and Exchange Commission approved generic listing standards. Those standards allow exchanges to list qualifying crypto funds without obtaining separate approval for each individual fund.
Litecoin, Hedera and Solana funds followed in October, including Bitwise’s Solana staking ETF. Bitwise charges an annual fee of 0.75% for NRR, equal to $75 for every $10,000 invested.
Why This Matters
Bitwise’s Near fund reflects the broader effort to bring cryptocurrency exposure into conventional brokerage accounts. By combining access to NEAR with staking, the product is designed to offer both price exposure and potential network rewards, while leaving token custody and validator operations to the fund manager.
Near’s positioning around AI agents gives the blockchain an additional investment narrative beyond general-purpose smart contracts. However, the fund remains exposed to the volatility of a single cryptocurrency, changing staking returns, validator penalties and the possibility of substantial or total investment losses.
Frequently Asked Questions
What is Bitwise’s Near fund?
It is a fund designed to give investors exposure to Near’s NEAR token through a brokerage account. The fund is identified by the ticker NRR and also plans to stake its NEAR holdings.
What is the current price and market capitalization of NEAR?
NEAR currently trades for just above $5 and has a market capitalization of approximately $6.5 billion. The token remains about 75% below its all-time high of more than $20.
What are the risks of investing in NRR?
The fund holds a single asset, and NEAR’s price can be highly volatile. Staking rewards may change, staking involves slashing risk, and Bitwise warns that investors could lose a significant part or all of their money.
