Title: Bitwise Launches First US Spot Near ETF After Near Triples Since August
According to Decrypt, the financial landscape for artificial intelligence tokens has shifted significantly with a major milestone achieved by industry player Bitwise. On Tuesday of this week, the firm successfully introduced its inaugural spot exchange-traded fund centered on NEAR Protocol (NEAR). The new investment vehicle is now live and trading under ticker NRR on the NYSE Arca platform.
The launch represents a critical development for institutional investors seeking exposure to blockchain infrastructure. By listing the product, Bitwise has enabled brokerage accounts holding standard equity positions in major brokers like Charles Schwab or Fidelity to gain direct access to NEAR without navigating complex over-the-counter markets. This regulatory approval allows retail and professional traders within these established frameworks to purchase shares of the fund alongside traditional assets.
In addition to providing capital appreciation opportunities, the new ETF structure offers holders staking rewards derived from their underlying positions in the Near Protocol network. The token itself has experienced substantial growth since August, with price action nearly tripling over that period as market attention converged on AI-focused digital currencies. This recent volatility underscores investor appetite for assets tied to artificial intelligence developments.
The product’s availability marks another step toward mainstream adoption of cryptocurrency derivatives within regulated US markets. As the technology sector evolves, such funds continue bridging gaps between traditional finance and decentralized protocols. The successful listing provides a stable mechanism for managing exposure to NEAR while maintaining compliance with Securities and Exchange Commission regulations governing spot exchange-traded products.
