Bitwise NEAR Staking ETP Surpasses $100 Million Amid Price Surge

Bitwise announced that its NEAR staking exchange‑traded product (ETP) has crossed the $100 million threshold in assets under management. The fund now holds 25.2 million NEAR tokens, valued at roughly $116 million at the latest price.

Price rally, not new capital, fuels growth

In the past 30 days NEAR’s market price jumped 135%, lifting the fund’s value without significant new purchases. Unit counts rose marginally by 0.6% (about 30,000 units), representing roughly $639 k of additional capital.

Product structure and fees

The ETP, listed in Frankfurt, allows European investors to buy units that each represent about 5.18 NEAR. The tokens are staked, generating rewards that are split: 33% goes to Bitwise, while investors receive the remaining 67%.

Management fees are set at 0.85% per year. At launch, Bitwise projected a net staking return of 5.5%; the current factsheet shows a net return of 3.01% after a decline in network rewards.

Regulatory outlook

A U.S. version of the product, filed under the ticker NRR for NYSE Arca, is awaiting regulatory approval.

Key observations

• Assets under management exceeded $100 million, primarily due to NEAR’s price appreciation.
• Unit count increased by only 0.6% over the month.
• Staking rewards to investors fell to a net 3.01% from the originally advertised 5.5%.
• Bitwise retains a 33% share of staking rewards.
• A U.S. ETF version is pending regulatory clearance.