Bitwise Launches NEAR ETF as $562 Bull Case Fuels AI Crypto Buzz

Bitwise has expanded the range of regulated U.S. cryptocurrency investment products with the launch of a spot NEAR Protocol ETF, following similar funds focused on Solana and XRP.

The Bitwise NEAR ETF began trading on NYSE Arca under the ticker NRR and carries an annual management fee of 0.75%. The fund gives institutional and traditional investors regulated exposure to NEAR while also incorporating staking, with the underlying tokens generating an estimated annual yield of around 5%.

However, much of the attention surrounding the launch has focused on a 40-page Bitwise research report published alongside the ETF. Bitwise Chief Investment Officer Matt Hougan and Head of European Research André Dragosch outlined several scenarios for NEAR through 2030, including an optimistic price target of $562.81.

Their bullish model assumes NEAR Protocol becomes a major coordination layer for the growing artificial intelligence economy. Using a SaaS-style valuation framework and a 50-times price-to-sales multiple, Bitwise estimated that NEAR could reach $562.81 if the network captures 3% of the global AI agent market, equivalent to roughly 950 million AI agents.

NEAR's price has already shown strong momentum. The token climbed sharply during September 2026 and traded near $4.99 after breaking above key moving averages, according to TradingView data.

Bitwise also outlined significant downside risk. If centralized AI companies such as OpenAI maintain dominance and decentralized networks struggle to gain adoption, its bearish scenario places NEAR at $1.63 by 2030.

Investors may compare the new NEAR ETF with Bitwise's other crypto products. The company's Solana fund has recorded approximately $1.23 billion in cumulative net inflows, while its XRP fund has attracted $677 million. The Bitwise BHYP ecosystem fund has accumulated about $148 million.

NEAR currently has around 47 million active addresses and ranks second globally by that metric, while transaction activity through NEAR Intents is expanding. The NRR ETF now gives investors another regulated avenue to gain exposure to the intersection of blockchain technology, decentralized AI and crypto infrastructure.