Why the Near $NRR ETF is Different | Hunter Horsley and Sal Ternullo

Bitwise's NRR ETF launched strongly as NEAR positions itself as an AI-native, low-valuation infrastructure bet amid model and chain fragmentation.

• ETF launch strength: Bitwise's NRR ETF saw over $10M of daily inflows and $10-20M daily volume in its first three days — roughly $50M total — outperforming other 2026 single-asset crypto ETF launches.
• Intents volume and buybacks: NEAR Intents has processed over $32 billion in volume (human-driven swaps, now including Ondo tokenized equities), generating net protocol revenue used to buy back (not burn) NEAR tokens into a holding vehicle.

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