Bitwise Asset Management has begun trading the first U.S. spot exchange-traded product that holds NEAR tokens directly, listing under the ticker NRR on NYSE Arca. The fund carries a 0.75% expense ratio and will allocate a substantial share of its assets to staking the token. The launch follows a sharp rise in usage of NEAR’s cross-chain transaction system, known as Intents, which recorded more than $32 billion in volume over the past year compared with less than $1 billion a year earlier, according to data supplied by Bitwise.

Matt Hougan, chief investment officer of Bitwise, told Cointelegraph that the firm views artificial‑intelligence agents as an emerging application for the NEAR network and has already observed agents conducting transactions on the platform. While most activity on NEAR remains driven by human users, Hougan expects AI‑related usage to expand over time. The company has been developing the U.S. version of the product since introducing a European NEAR ETF in June 2025. NRR joins a suite of single‑asset crypto products that track Bitcoin, Ether, Solana, XRP and Hyperliquid.

The price of NEAR has climbed about 167% over the last month, reaching roughly $4.94 per token on Tuesday, as reported by CoinGecko. Over the past year the asset is up approximately 81%. Hougan highlighted that the Intents protocol aligns with the goal‑oriented nature of large language models, allowing them to bypass the technical complexities of bridging assets across chains. He also emphasized that cross‑chain abstraction has been a persistent obstacle for the broader crypto industry, with many participants losing time and capital trying to navigate it.

The protocol’s protective capabilities were underscored this week when NEAR Intents blocked more than $50 million in transfers tied to the $387.5 million Bitget hack. During execution, the SHIELD system froze about $503,000, while an additional $166,000 in suspected stolen funds passed through the protocol without being halted.

BlackRock’s recent research paper suggested that autonomous software could increase demand for stablecoins, cryptocurrencies and tokenized assets as machine‑to‑machine transactions become more common. The firm described AI as a potential “structural catalyst” for digital‑asset adoption, noting that programmable assets may be well suited to high‑frequency, low‑value transactions that operate continuously.

Peter Brandt, a veteran commodities analyst, has publicly projected that Bitcoin could reach $600,000 by 2029 and has referred to XRP as a “fool coin.” His commentary appears in a Cointelegraph magazine feature.

Cointelegraph maintains an independent editorial stance and adheres to a published policy intended to deliver accurate, timely information. Readers are advised to verify any claims independently.