Bitwise reports that its NEAR fund has crossed the $100 million threshold, holding 25.2 million NEAR tokens valued at roughly $116 million based on Tuesday’s market prices. Just a month prior, that same holding was valued at half that amount.
The token’s strong performance drove the milestone, with the price of NEAR climbing 135% over a 30-day period. Consequently, Bitwise did not require any influx of new investors to surpass the $100 million mark.
NEAR’s Rally Did Most of the Lifting
The Bitwise NEAR Staking ETP debuted in Frankfurt in July 2025, allowing European investors to purchase it like a standard share. The product holds NEAR on their behalf and stakes the assets—locking tokens to support network operations in exchange for newly minted ones.
Each unit represents a claim on approximately 5.18 NEAR. While token valuations fluctuate alongside broader market conditions, unit counts only increase when fresh purchases are made.
On September 17, an independent administrator recorded 4,882,271 units, while Bitwise’s data page displayed 4,912,271 units on Tuesday. This represents an addition of 30,000 new units, marking a 0.6% increase valued at approximately $639,000.
During that same 30-day window, the value of each unit jumped 107%, while NEAR market data showed the underlying cryptocurrency gained 135%.
“A milestone for another of our European products: the Bitwise NEAR Staking ETP has passed USD 100 million in assets under management.,” Bitwise Europe shared.
What Investors Pay and What They Were Promised
The fund carries an annual management fee of 0.85%. Additionally, Bitwise retains 33% of the staking rewards generated, leaving investors with the remaining 67%.
Upon its launch, Bitwise promoted a net staking return of 5.5%, whereas the current factsheet lists a yield of 3.01% because network rewards declined while the provider’s cut remained unchanged. Recently, Bitwise inflows have leaned heavily on yield-generating offerings.
“100m in NEAR Bitwise ETP. Gud milestone since launching it a year ago in Frankfurt,” said Illia Polosukhin, co-founder of NEAR Protocol.
A United States equivalent remains pending. A regulatory filing dated September 16 outlines the proposed Bitwise NEAR ETF under the ticker NRR for the NYSE Arca, though approval has not yet been granted by regulators.