Bitwise Launches First US Spot Near ETF Under Ticker NRR as Token Doubles Since August

Bitwise began trading the first U.S. spot Near ETF on September 29, 2026, listing on NYSE Arca under ticker NRR with a 0.75% annual fee, giving brokerage-account investors direct exposure to the Near blockchain token. Near trades just above $5 at a $6.5 billion market capitalization, roughly double its August level, though still down about 75% from its all-time high above $20. The layer-1 network, live since 2020, markets an AI focus tied to co-founder Illia Polosukhin, a co-creator of the Transformer architecture behind ChatGPT-style models. Bitwise will stake the fund's tokens in-house, targeting average rewards near 5% that accrue to shareholders. The company warns staking carries slashing risk and that the single-asset fund could lose significant or all value. Bitwise filed Delaware paperwork in April 2025, when Near traded at $2.61; Grayscale followed in January 2026.