NEAR ETF flows

What the NEAR ETF flow data is telling us

NEAR ETF complex has attracted +$79.1M in cumulative net flow since 29 Sep 2026, with current assets under management of $54.1M across 1 issuer.

NEAR ETF flows track creations and redemptions in the Bitwise NEAR ETF (NRR), the only U.S. spot fund on NEAR Protocol. It began trading on NYSE Arca on 29 September 2026, stakes the NEAR it holds, and its daily flow is computed here from Bitwise's own share count and NAV.

What NRR is and why its flow is easy to read

NRR is a grantor trust that holds NEAR, the token of a proof-of-stake layer-1 network, at Coinbase Custody. Bitwise charges a 0.75% sponsor fee and values the trust against the CME CF NEAR reference rate. Shares are created and redeemed by authorised participants in baskets of 10,000, so every move in the share count is a whole number of baskets.

Staking is the defining feature. Bitwise targets staking 100% of the trust's NEAR, and its fund page reported the full balance staked in early October 2026. Under the prospectus roughly two thirds of the rewards stay in the trust and one third goes to staking agents, the custodian and the sponsor. Rewards raise the NEAR behind each share instead of creating new shares — which matters for flow, because the number we track only changes when investors add or withdraw money.

The launch was front-loaded. The first trading day brought a creation of about $36.0 million, and the following two sessions added roughly $14.0 million and $8.1 million; after that, days of a quarter or half a million dollars and days of zero took over. That shape — a large opening allocation and then a trickle — is typical for a new single-asset crypto fund, and it is why the cumulative line flattens so early.

With one fund there is no issuer rotation to untangle. When NRR prints a creation, that is the entire U.S. spot NEAR ETF market buying; a redemption is the whole market selling. Competition, if a second issuer lists, will show up as a second row in the table above rather than as a change in this page's logic.

What moves money in and out of NRR

• NEAR price trend: early creations clustered around a rising NEAR price, and small crypto funds tend to follow momentum rather than lean against it.
• Staking yield net of the fee: the trust keeps about two thirds of rewards and pays 0.75% a year, so the spread between the two decides whether holding NRR beats holding an unstaked wrapper.
• The AI-agent narrative around NEAR: Bitwise pitched the fund partly as exposure to that theme, and news on it reaches flows through retail brokerage accounts.
• Platform approvals: a fund this new is not yet on most adviser platforms; each approval widens the pool of buyers who can create shares at all.
• Premium or discount to NAV: authorised participants create when NRR trades rich and redeem when it trades cheap, so flow often trails the premium by a session.

Reading the NRR numbers correctly

Each bar on the daily chart is one session of net creations or redemptions in millions of dollars. A zero day is normal for NRR: it means no basket changed hands, not that the data is missing. A blank latest day means that session has not been published yet (T+1).

Because staking rewards grow the trust without issuing shares, net assets can rise on a day with zero flow. Compare the cumulative flow line with net assets in the fund table: the gap between them is price movement plus staking income, not investor money.

Treat the opening days as one event. The first three sessions account for nearly all of NRR's cumulative flow so far, so a percentage change measured from launch says more about the seed allocation than about current demand.

A daily flow is the dollar value of NRR shares created minus shares redeemed that day, starting from the listing on 29 September 2026. Staking rewards are not counted as flow because they do not create shares.

• NRR price, NAV and holdings
• All Bitwise crypto ETFs
• New crypto ETFs and their first days