Bitwise's NEAR fund charges more, and keeps less of the rewards, than its other US staking ETFs
The Bitwise NEAR ETF, NRR, began trading on September 29, 2026, with a 0.75% fee, the highest of Bitwise's US staking funds, and it keeps about 67% of staking rewards.
Key takeaways
Bitwise's new US fund for NEAR, a blockchain token, charges more and keeps less of the staking rewards than the US staking funds the firm already runs. The Bitwise NEAR ETF NRR holds the token, stakes it, and began trading on NYSE Arca on Tuesday, September 29.
As of Monday, October 5, the annual fee is 0.75%. That is 3.75 times the 0.20% on BSOL, the fund that holds Solana, and more than double the 0.34% on BHYP and BAVA, the funds that hold the HYPE token and Avalanche. NRR also keeps the smallest share of the rewards.
Those kept shares are what remains after the staking expense in each fund's documents: 33% of rewards here, 6% on Solana, 25% on Hyperliquid and 12% on Avalanche.
The prospectus, accepted on Thursday, September 24, lets the sponsor waive some or all of the 0.75% fee. Bitwise has not announced a waiver.
The fee comes off the NEAR the trust holds, each day. Staking locks the token to help run the network, in exchange for new NEAR. The trust keeps about 67% of that extra NEAR.
The other 33% is shared by the staking agent, Coinbase Custody Trust Company, and the sponsor, Bitwise Investment Advisers. The prospectus says the sponsor may favor Attestant, its affiliate, when it picks that agent.
The trust's share of the rewards is added to the value of each share. Bitwise says those rewards are not guaranteed.
Bitwise has listed a NEAR staking product on Xetra, a German exchange, since Tuesday, July 1, 2025. It charges 0.85% and, on a fact sheet dated Monday, September 28, takes the same 33% of rewards.
Matt Hougan, Bitwise's chief investment officer, said NEAR "sits at the intersection of two of the biggest trends in technology: AI and crypto."
The line is about the network. The fund holds the token, and it stakes it.
As of Friday, October 2, Bitwise's US fund page showed a 4.90% gross network rate and a 3.28% rate after the reward split, with 98% of assets staked. On those figures, the 3.28% adjusted for the 98% staked, minus the 0.75% fee, comes to 2.46%. That is our arithmetic on the US page, not a yield the fund will pay.
Bitwise's European page showed a 2.97% staking market rate as of Saturday, October 3, which it calls the return before fees. The launch release cited 5.3% as of Friday, September 25, and said that network rate is not what the fund will earn.
Staked NEAR is not ready to hand over the moment a holder wants out. In ordinary conditions, the prospectus says, a release takes about 48 hours, across two to four stretches of about 12 hours.
The trust aims to settle redemptions in two business days, and it can delay that, or pause redemptions, if the tokens are still locked. Only large dealers create or redeem shares, in baskets of 10,000, for cash or for the token.
The sponsor plans to treat the fund as a grantor trust, outside the Investment Company Act of 1940, the law that sets the rules for most ETFs. You may owe tax on staking rewards that arrive as extra NEAR rather than cash. The prospectus says the timing and the amount of that income are uncertain.
Bitwise said the trust took in $35.5 million on the first day. By Thursday, October 1, the NEAR it held was worth $53.4 million.
Bitwise calls NRR the first US spot fund for the token. Grayscale Near Trust, GSNR, has traded over the counter since Monday, September 29, 2025. As of Friday, October 2 it charged 2.50%, and its filing on Tuesday, January 20, 2026, said the trust was then prohibited from staking.
The rewards can still fall
Bitwise's launch release said inflation was recently halved to 2.5%. NEAR described that cut as a reduction in the maximum inflation rate, from 5% to 2.5%. The prospectus dated Thursday, September 24 still says the protocol increases supply by approximately 5% a year, and that new supply is no larger than 5%.
A proposal posted on Wednesday, September 30 would lower issuance from 2.5% to 1.6% over 24 months. On the proposal's own numbers, staking yields would move from about 5.4% to about 3.5%, measured from that 5.4%, not from the fund page. The post says the change still needs a vote by House of Stake, NEAR's body for a decision like this, and that validators still have to adopt it.
ETFs in this story
Frequently asked questions
What does the Bitwise NEAR ETF charge?
As of October 5 the annual fee is 0.75%, which is 3.75 times the 0.20% on the Solana fund and more than double the 0.34% on the HYPE and Avalanche funds.
How much of the staking rewards does it keep?
The trust keeps about 67% of staking rewards, less than the 94% kept on Solana, the 75% on HYPE and the 88% on Avalanche.
Has Bitwise waived the fee?
The prospectus lets the sponsor waive some or all of the 0.75% fee, and Bitwise has not announced a waiver.
What yield will the fund pay?
Bitwise says the rewards are not guaranteed, and a 2.46% figure worked from the US page is arithmetic, not a yield the fund will pay.
