Bitwise Debuts First US Spot NEAR ETF With 0.75% Fee, 33% Staking Cost
In this article
Bitwise Asset Management launched the first US spot NEAR Protocol ETF on NYSE Arca on Tuesday, September 29, 2026, trading under the ticker NRR with a 0.75% annual management fee, as reported by Cryptopotato. The fund holds NEAR directly through Coinbase Custody and intends to stake a significant portion of its holdings, with staking expenses absorbing about 33% of the rewards generated.
Fees and staking mechanics
The 33% staking cost is the highest among Bitwise’s US single-asset funds. Bitwise’s Hyperliquid ETF (BHYP), launched in May 2026 with in-house staking, pays 25% of its rewards as staking expenses. Its Avalanche ETF (BAVA) sets staking expenses at 12%, according to its April prospectus. Both charge a 0.34% management fee — less than half of NRR’s 0.75%.
The staking agent is expected to be Attestant, which the prospectus lists as a Bitwise affiliate. The NEAR prospectus also warns that staking could slow redemptions, since staked NEAR takes about 48 hours to unlock under normal conditions.
An AI and cross-chain angle
Bitwise CIO Matt Hougan described NEAR as sitting at the intersection of AI and crypto. He said AI agents handling payments and trades for users will need fast settlement that does not rely on a single custodian, and pointed to NEAR Intents — the network’s cross-chain transaction protocol — as an early example. According to Bitwise, NEAR Intents processed over $32 billion in volume, up from under $1 billion a year earlier. Hougan told Cointelegraph that activity on NEAR today remains mostly human-driven but that he expects agent usage to grow.
NEAR had rallied roughly 167% over the past month to trade around $4.94 on Tuesday, according to CoinGecko data cited by Cointelegraph, up about 81% over the past year. Cryptopotato reported NEAR near $5.00 on Coinbase the same day.
Why it matters
The launch gives US investors regulated exposure to NEAR without holding the token directly, a milestone for a layer-1 blockchain that shifted toward AI in 2024. It also pushes staking economics into the ETF wrapper, meaning the fund’s net return will be shaped by the 0.75% fee plus the roughly one-third cut of staking rewards. By comparison, Grayscale’s NEAR trust (GSNR) charges a 2.5% annual fee and trades over-the-counter, sometimes above the value of its underlying NEAR, according to Grayscale’s June 12 amendment. The prospectus’s warning about 48-hour unlock times is also a reminder that staking mechanics can affect how quickly an ETF can meet redemptions during market stress.
What to watch
The key open item is Grayscale’s pending conversion of its NEAR trust into a spot ETF. Grayscale filed in January 2026, and its June 12 amendment left the proposed ETF’s annual fee blank — no approval had been announced as of September 29, 2026. How quickly NEAR Intents volume and AI-agent activity grow, and whether rival issuers file for spot NEAR products, will shape how much of the market NRR captures.
Frequently Asked Questions
What is the Bitwise NEAR ETF ticker and fee?
The fund trades under NRR on NYSE Arca and charges a 0.75% annual management fee.
How much of the fund’s staking rewards are kept for expenses?
Bitwise keeps about 67% of the NEAR generated through staking, with the remaining 33% covering staking expenses shared among Attestant, Coinbase Custody, and Bitwise.
Is Grayscale’s NEAR ETF already trading?
No. Grayscale filed in January to convert its NEAR trust into a spot ETF, but that conversion remained pending as of September 29, 2026, and the trust continues to trade OTC under the ticker GSNR.
What is NEAR Intents and why does it matter?
NEAR Intents is the network’s cross-chain transaction protocol, which processed over $32 billion in volume, up from under $1 billion a year earlier, according to Bitwise.
Where is NEAR trading now?
NEAR traded near $5.00 on Coinbase on Tuesday, according to Cryptopotato, though Cointelegraph cited CoinGecko data showing about $4.94.
Sources: CryptoPotato, Cointelegraph
