Bitwise Investment Advisers’ Bitwise NEAR Protocol ETF, trading under the ticker NRR, is designed to provide direct exposure to NEAR while also seeking additional tokens through staking. The prospectus identifies NYSE Arca as the proposed listing venue and sets out the fund’s operating structure.

NRR’s main objective is to track the value of the NEAR held by the Trust after expenses and liabilities are deducted. The fund also aims to generate additional NEAR through staking, giving investors exposure to the token while incorporating an on-chain rewards strategy.

Bitwise’s official fund website lists NYSE Arca as the exchange and September 28, 2026, as the fund’s inception date. The SEC filing, meanwhile, describes the listing in prospective terms. The prospectus details the intended structure and terms, while the fund website provides separate operational information.

NEAR’s growing connection with AI infrastructure and the agentic economy has contributed to interest surrounding the ETF. However, the core investment case remains direct ownership of NEAR and the potential to stake it. AI-related demand may influence investor interest, but it does not alter NRR’s exposure to NEAR’s market price or guarantee that staking rewards can offset losses.

Custody and Staking Details

Coinbase Custody Trust Company serves as the custodian for the Trust’s NEAR and is responsible for maintaining segregated accounts. The Trust can stake some or all of its holdings, with staking agents appointed by the sponsor to manage validators linked to the staked tokens.

NRR calculates its NAV using the CME CF NEAR Protocol, Dollar Reference Rate, New York Variant, a benchmark based on executed trades across major NEAR markets. The ETF charges a 0.75% annual unitary management fee on its NEAR holdings.

Staking rewards are added to the Trust’s assets and can raise the NAV per share. However, network reward rates are subject to change, meaning staking does not provide a fixed or guaranteed return. Validator performance, staking-agent operations and custody arrangements can also influence the results.

NRR shares are issued and redeemed in baskets of 10,000 through authorized participants. This mechanism helps link the shares to the amount of NEAR represented by the fund. Shares traded on an exchange can still move above or below NAV, exposing investors to potential premiums or discounts.

Brokerage expenses, the fund’s 0.75% fee and any difference between the market price and NAV can affect the return ultimately received by investors.

NEAR’s Next Price Move

NEAR gained renewed attention following the September 29 launch of Bitwise’s spot NEAR ETF, NRR. The product reportedly recorded around $50 million in inflows during its first two trading sessions, adding to expectations for greater institutional interest.

The token also attracted attention in South Korea, where traders reportedly made $40,000 by taking a long position on NEAR during a trading competition semifinal.

From a technical perspective, the $4.50-$4.65 range is an important support zone. A sustained move above $5.00 could strengthen the recovery and put $5.50 in focus, followed by the $6.00 psychological level.

On the downside, losing the $4.50 support could increase selling pressure and expose NEAR to a potential move toward $4.00.

Whether the recent momentum can continue will depend on the consistency of ETF inflows and whether staking activity develops into sustained demand for NEAR.

The protocol’s expanding involvement in AI infrastructure and cross-chain transactions could provide additional catalysts. However, after its recent advance, expectations are elevated, leaving ETF flows, trading volume and overall crypto-market sentiment as important factors for NEAR’s next major move.