Bitwise says its NEAR fund has passed $100 million. The fund holds 25.2 million NEAR tokens. At Tuesday's price those tokens are worth about $116 million. A month ago the same pile was worth half that.
The token did the work, with NEAR price up 135% in 30 days. Bitwise needed no new investors at all to cross the $100 million line.
NEAR's Rally Did Most of the Lifting
The Bitwise NEAR Staking ETP listed in Frankfurt in July 2025. Europeans buy it like a share. It holds NEAR for them and stakes it, which means locking tokens to help run the network in return for newly issued ones.
Each unit is a claim on about 5.18 NEAR. Units are the honest measure of demand. Token values rise and fall with the market. Unit counts only rise when somebody buys.
An independent administrator counted 4,882,271 units on September 17. Bitwise's page showed 4,912,271 on Tuesday. That is 30,000 new units, a rise of 0.6%, worth about $639,000.
Over the same month the value of each unit rose 107%. NEAR itself gained 135% in 30 days, according to NEAR market data.
NEAR Price Performance. Source: BeInCrypto "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 charges 0.85% a year. Bitwise also keeps 33% of the staking rewards. Investors take the other 67%.
At launch Bitwise advertised a net staking return of 5.5%. The current factsheet shows 3.01%. Network rewards fell. The cut did not. Bitwise's recent inflows have leaned on products that pay a yield.
"100m in NEAR Bitwise ETP. Gud milestone since launching it a year ago in Frankfurt," said Illia Polosukhin, co-founder of NEAR Protocol.
A US version is still waiting. A September 16 filing names the Bitwise NEAR ETF, ticker NRR, for NYSE Arca. Regulators have not approved it.
Read the Original story Bitwise NEAR ETP Passes $100M: Institutional Demand or Price Rally? by Lockridge Okoth at beincrypto.com