Bitwise Debuts First US Spot NEAR ETF With 0.75% Fee, 33% Staking Cost
Bitwise launched the first US spot NEAR Protocol ETF (NRR) on NYSE Arca on September 29, 2026, with a 0.75% annual fee. The fund stakes its NEAR holdings, retaining 67% of staking rewards after 33% covers expenses. NEAR's average staking reward was about 5% annually as of September 25, 2026, according to Bitwise. The ETF provides regulated exposure to NEAR for US investors, with staking mechanics affecting net returns.
How this was made
The 30-second read
Why it matters
The launch expands regulated crypto offerings, potentially shifting capital from OTC trusts to exchange‑listed vehicles.
Market read
First US spot NEAR ETF creates a new tradable vehicle, likely influencing NEAR demand and the broader crypto ETF landscape.
What to watch
Staking lock‑up periods could affect redemption liquidity during market stress, impacting investor confidence.
Background
Bitwise's debut US spot NEAR ETF (NRR) follows its earlier European NEAR product and competes with Grayscale's NEAR trust (GSNR).
Ticker impact
Bitwise launched the first US spot NEAR ETF (ticker NRR) on NYSE Arca with a 0.75% fee, providing regulated exposure to NEAR.
likely upward pressure on NRR as investors allocate capital to the new product
First‑day launch creates fresh supply of a regulated vehicle; traders can act immediately by buying NRR.
The ETF holds NEAR directly, and its launch highlights NEAR's price rally (~167% month‑to‑date) and staking economics.
potential upside as ETF inflows boost underlying token demand
ETF exposure typically supports the underlying crypto's price, but high staking cost may limit net appeal.
Market effects
Introduces a regulated entry point for crypto exposure, influencing other crypto ETFs and spot products.
U.S. investors gain direct access to NEAR, potentially increasing overall crypto market participation.
Sets a precedent for other jurisdictions to launch similar spot crypto ETFs.
Counterpoint
High 0.75% fee and 33% staking cost may deter cost‑sensitive investors, limiting ETF demand.
Key entities
- Asset ManagerBitwise Asset Management
Issuer of the NRR ETF.
- BlockchainNEAR Protocol
Underlying crypto asset held by the ETF.
