NEAR Rally Pushes Bitwise Staking ETP Above $100M

Bitwise’s NEAR Staking ETP has surpassed $100 million in assets under management, with the milestone driven primarily by NEAR’s sharp price rally rather than a major surge in new investor demand.

The exchange-traded product, which launched in Frankfurt in July 2025, gives European investors exposure to NEAR while staking the underlying tokens to generate network rewards. Each ETP unit represents a claim on approximately 5.18 NEAR.

Investor demand increased only modestly over the latest reporting period. An independent administrator recorded 4,882,271 units on September 17, while Bitwise’s latest figures showed 4,912,271 units. The addition of 30,000 units represents growth of roughly 0.6%, valued at about $639,000.

NEAR’s price appreciation contributed far more to the ETP’s rising asset value. The cryptocurrency surged 135% over the past 30 days, while the value of each Bitwise NEAR Staking ETP unit climbed approximately 107%.

Bitwise Europe confirmed that the product had crossed the $100 million AUM threshold, calling it a milestone for its European investment lineup. NEAR Protocol co-founder Illia Polosukhin also highlighted the achievement following the Frankfurt-listed product’s growth.

The ETP charges investors an annual management fee of 0.85%. Bitwise retains 33% of staking rewards generated by the underlying NEAR tokens, while investors receive the remaining 67%. At launch, Bitwise promoted a net staking return of 5.5%, but the latest factsheet shows the figure has fallen to 3.01% as network staking rewards declined.

Meanwhile, Bitwise is seeking to expand its NEAR investment offering into the United States. A September 16 regulatory filing names the proposed Bitwise NEAR ETF, with ticker NRR, for listing on NYSE Arca.

The U.S. NEAR ETF has not yet received regulatory approval. If cleared, it would provide U.S. investors with another regulated vehicle for gaining exposure to NEAR as institutional interest in cryptocurrency investment products continues to develop.