Bitwise's NRR debuts as first US spot NEAR ETF with staking, taking $35.5M on day one
Bitwise's NRR, the first US spot NEAR ETF, launched with staking built in and drew $35.5M on day one; CIO Matt Hougan says NEAR's AI pitch rests on Intents, a business already earning fees.
Why it matters
NRR gives US investors regulated brokerage access to NEAR through a spot fund that includes staking, and Bitwise is selling the token on a product that already generates fees rather than on AI expectations alone. NEAR also returned to CoinGecko's top 20 by market capitalization while Bitcoin, Ethereum and XRP weakened, although Crypto News, citing ambcrypto, reported NEAR falling 16% the day after the Bitwise note.
Where the sources disagree
NEAR's October 8 price move
$1.26 billion
Crypto.News
$7.2 billion
CoinGape
Crypto.News put the day at roughly 6% to about $5.50, CoinGape reported 7% to $5.51, and CoinGape quoted CoinGecko at 8.7%.
NRR's first three days of inflows
something like 50 million
Bankless
$58M based on dailies of $35.5M, $13.2M and about $9M
Bankless
Bankless carried Hunter Horsley's 'something like 50 million' next to daily figures that add up to about $58M.
NEAR Intents cumulative volume
more than $30 billion
Crypto News (CryptoNews.net), CoinGape, CryptoPotato, Blockchain.News
more than $33 billion across 35 chains
Crypto.News
CoinGape, CryptoPotato and Crypto News cite more than $30 billion, while Crypto.News cites more than $33 billion.
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported market figure
$4 billion
CoinGape
$1.26 billion
Crypto.News
CoinGape reports $4 billion, Crypto.News reports $1.26 billion (68% apart).
size of the move (revenue rose)
512%
CoinGape
198%
CryptoPotato
CoinGape reports 512%, CryptoPotato reports 198% (61% apart).
reported market figure
$1.26 billion
Crypto.News
$4.80 billion
Crypto News (CryptoNews.net)
Crypto.News reports $1.26 billion, Crypto News (CryptoNews.net) reports $4.80 billion (74% apart).
reported market figure
$7.2 billion
CoinGape
$4.80 billion
Crypto News (CryptoNews.net)
CoinGape reports $7.2 billion, Crypto News (CryptoNews.net) reports $4.80 billion (33% apart).
Key facts
Bitwise's NRR is the first US spot NEAR ETF, listed on NYSE Arca with staking built in.
Reported by Bankless
NRR drew $35.5 million in net inflows on its first day.
35,500,000 USDDisputed figureReported by Bankless
Bitwise CEO Hunter Horsley put NRR's first three days at 'something like 50 million' in inflows, while the reported daily figures of $35.5M, then $13.2M, then about $9M total closer to $58M.
Disputed figureReported by Bankless
NEAR Intents has processed more than $30 billion in cumulative volume according to CoinGape, CryptoPotato and Crypto News, while Crypto.News puts the cumulative figure at more than $33 billion across 35 chains.
Disputed figureReported by Crypto News (CryptoNews.net)
In figures shared by NEAR, 30-day Intents volume passed $4 billion with 896% year-over-year growth and 30-day revenue exceeded $2 million, up 512%.
Disputed figureReported by CoinGape
Bitwise reported that NEAR rose 198% in the third quarter, against 43% for Bitcoin and 71% for Ethereum.
Disputed figureReported by Crypto News (CryptoNews.net)
On October 8 NEAR traded around $5.50 with a market value of roughly $7.2 billion, ranking twentieth on CoinGecko ahead of Stellar at about $6.97 billion.
Disputed figureReported by Crypto.News
What happened
Bitwise's NRR, the first US spot NEAR ETF, trades on NYSE Arca with staking built in and took in $35.5M of net inflows on its first day, and Bankless reported that Bitwise CEO Hunter Horsley put the first three days at 'something like 50 million' while the reported dailies of $35.5M, $13.2M and about $9M add to closer to $58M. Bitwise CIO Matt Hougan, writing on October 7, picked NEAR as a smaller-cap asset with an operating business behind its AI ambitions, citing NEAR Intents at more than $30 billion in cumulative volume, while Crypto.News put that cumulative figure above $33 billion across 35 chains and Blockchain.News said it spans more than 35 blockchains. NEAR traded around $5.50 on October 8 and passed Stellar by market capitalization to reach about $7.2 billion, with CoinGape reporting a 7% rise to $5.51 the same day and quoting CoinGecko at 8.7%. CoinGape, using figures shared by NEAR, put 30-day Intents volume above $4 billion with 896% year-over-year growth and 30-day revenue above $2 million, up 512%, while CryptoPotato reported Hougan's estimate that Intents is on track for around $45 million in fees this year, some returned to tokenholders through buybacks. Crypto News, citing ambcrypto, then reported NEAR falling 16% a day after the Bitwise report, so the direction of the move is unsettled.
How the story developed
- First report
First report by Bankless
Bitwise Is Pitching NEAR to Wall Street as an AI Bet
- Update
Bankless reports NRR's $35.5M first-day inflows
Bankless reported NRR drew $35.5M in net inflows on day one, with Bitwise CEO Hunter Horsley putting the first three days at 'something like 50 million'.
- Update
Robinhood Chain becomes reachable through near.com
CoinGape reported that as of October 7 users can exchange ETH and USDG with over 180 assets across more than 30 chains.
- Official statement
Bitwise CIO Matt Hougan flags NEAR in an October 7 market note
Hougan wrote that NEAR rose 198% in the third quarter and framed NEAR Intents, with more than $30 billion in cumulative volume, as the operating business behind the AI story.
- Update
NEAR passes Stellar to reach the twentieth spot by market cap
Crypto.News reported NEAR at about $5.50 and roughly $7.2 billion; CoinGape reported a 7% rise to $5.51 the same day while Bitcoin and Ethereum fell.
- Independent corroboration
Independently corroborated by CoinGape
NEAR Price Jumps 6% as Bitwise CEO Matt Hougan Predicts Moonshot Potential
- Update
Bitwise white paper coverage adds chain and Intents detail
Blockchain.News cited a Bitwise paper, NEAR in Plain English, describing 600 millisecond block times, finality within 1.2 seconds across nine active shards and Confidential Intents at 50.6% of Intents value.
- Update
NEAR drops 16% a day after the Bitwise note
Crypto News, citing ambcrypto, reported a 16% fall the day after Hougan's bullish report.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 5 Oct 2026, 19:34 UTC: Bankless — 1 independent source, 1 reports
- 6 Oct 2026, 17:01 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 6 Oct 2026, 22:28 UTC: U.Today — 3 independent sources, 3 reports
- 8 Oct 2026, 01:23 UTC: CoinGape — 4 independent sources, 5 reports
- 8 Oct 2026, 06:47 UTC: Blockchain.News — 5 independent sources, 6 reports
- 8 Oct 2026, 08:09 UTC: Crypto.News — 6 independent sources, 7 reports
- 8 Oct 2026, 18:38 UTC: CryptoPotato — 7 independent sources, 9 reports
Affected entities
Also mentioned: Robinhood, United States, NYSE, Base, Coinbase, USD Coin, Nasdaq
Original sources
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