Bitwise launches first US spot NEAR ETF with staking rewards

What happened

Bitwise has launched NRR, described as the first U.S. spot NEAR exchange-traded product. It charges a fee, stakes its NEAR holdings in-house, and passes staking rewards to shareholders through net asset value, which is the per-share value of the fund's holdings.

Confirmed

Global impact / market context

This gives everyday investors a regulated way to get NEAR price exposure plus staking rewards without buying and staking the token themselves. Bitwise stakes the fund's NEAR in-house, so those rewards are reflected in the fund's net asset value rather than paid out separately.

Analyst inference

A U.S. spot NEAR exchange-traded product expands the list of single-token crypto funds available to brokerage users. By wrapping staking rewards into net asset value, it competes with buying NEAR directly and staking it, though the fund's stated fee reduces rewards shareholders keep.

Analyst inference

What to watch

1. Bitwise's NRR product charges a stated fee and stakes its NEAR in-house, with staking rewards flowing to shareholders through net asset value. Confirmed
2. If the product attracts steady investor money, other asset managers could propose similar U.S. spot funds for additional tokens that offer staking rewards. Proposed
3. Watch whether regulators allow staking inside U.S. exchange-traded products, since that approval shapes how much reward investors keep after the fund's stated fee. Analyst inference

Affected assets

• NEAR — NEAR Protocol
• DEFI — DeFi

Evidence

• theblock.co