Bitwise launches first US spot NEAR ETF following token’s significant surge

Details of Bitwise NEAR ETF and its launch

Bitwise has launched the Bitwise NEAR ETF with a 0.75% management fee, holding NEAR tokens directly. The company plans to stake a portion of the fund’s assets, potentially generating additional yield for investors. This ETF trades under ticker NRR on NYSE Arca and complements Bitwise’s existing US crypto single-asset products covering Bitcoin, Ether, Solana, XRP, and Hyperliquid.

The timing follows a surge in activity on NEAR Intents, the network’s cross-chain transaction protocol. According to Bitwise, transaction volume on Intents rose from less than $1 billion a year ago to more than $32 billion recently, indicating robust demand and utilization of the platform.

Bitwise’s perspective on AI’s growing role in NEAR’s ecosystem

Chief Investment Officer Matt Hougan highlighted the increasing use case of AI agents on NEAR, noting that Bitwise has already observed agent activity on the network. Though most of NEAR’s current engagement remains human-driven, the expectation is for AI-powered activity to grow substantially over time.

Bitwise has pursued this US ETF development since launching its European NEAR exchange-traded product in June 2025, adding an important product to its American suite. The firm considers AI a key catalyst for innovation and growth surrounding NEAR.

NEAR’s pivot to AI and cross-chain capabilities

NEAR is a layer-1 blockchain platform for decentralized applications that pivoted towards AI in 2024. Since then, it has increased focus on cross-chain infrastructure and autonomous AI agents.

This strategic shift aligns with the broader financial sector’s interest in how autonomous software may boost demand for blockchain-based payment rails. BlackRock recently underscored this trend in a research paper, suggesting AI agents could drive increased adoption of stablecoins, cryptocurrencies, and tokenized assets as machine-to-machine transactions become more routine.

BlackRock also characterizes AI as a ‘structural catalyst’ for digital asset adoption, pointing out digital programmable assets’ suitability for high-frequency, low-value, continuous transactions.

Intents protocol innovation and cross-chain security challenges

NEAR’s Intents protocol enables users and AI agents to specify desired transactions, while third-party solvers compete to fulfill them across supported blockchains, abstracting complexity and bridging barriers.

Hougan emphasized that cross-chain usability has been a long-standing challenge in crypto, with many users losing time and funds navigating that landscape. Intents aims to remedy those issues, facilitating safer, more efficient asset transfers.

The protocol’s security capabilities were highlighted recently when it blocked over $50 million in attempted transfers associated with the $387.5 million Bitget hack. Its SHIELD system froze approximately $503,000 during execution, though around $166,000 of suspected stolen funds did pass through.