NEAR Up 160% On Its First US Spot ETF – Can It Go Higher?

NEAR closed at $4.93 on September 30, up from $1.89 on September 1. That is a gain of about 161% in one month. The token also reached $5.58 on September 27 before pulling back.

Meanwhile, Bitwise launched the NEAR ETF, ticker NRR, on September 29. The fund now trades on NYSE Arca and carries a 0.75% management fee.

Key Takeaways

• NEAR climbed about 161% in September, from $1.89 to $4.93.
• Bitwise’s NRR is the first US spot NEAR ETP, with a 0.75% fee and plans to stake its holdings.
• NEAR Intents has processed more than $32 billion, while token inflation has fallen to 2.5%.

RECENTLY UPDATED: NEAR Protocol (NEAR) Price Prediction 2026 2027 2028 – 2030

The ETF Arrives After NEAR Has Already Repriced Sharply

The ETF gives US investors a new route into NEAR without buying the token directly. Bitwise also plans to stake the fund’s NEAR holdings. Its current staking rate is about 5%, based on data from September 25.

That access comes after a huge price move.

NEAR rose from $1.89 on September 1 to $4.93 on September 30. The token briefly reached $5.58 three days earlier. Investors buying after that move are therefore paying a very different price from those who bought at the start of the month.

$32 Billion In Intents Volume Gives NEAR A Stronger Valuation Case

The network now has a measurable activity figure behind the rally. Bitwise says NEAR Intents has processed more than $32 billion in volume, up from less than $1 billion a year earlier.

NEAR’s economics have also changed. Its inflation rate was recently cut in half to 2.5%. Revenue from core products funds NEAR buybacks. The entire token supply is already unlocked, removing future unlock events as a source of new supply shocks.

NEAR’s own revenue dashboard reports $52.14 million in total fees generated as of September 30. It also shows $156.43 million in confidential TVL for NEAR Intents.

ALSO READ: Is It Too Late to Buy NEAR Protocol in 2026? What Investors Should Know

Can NEAR Justify A $6 Billion-Plus Valuation?

Bitwise puts NEAR’s market capitalization above $6 billion. At that size, continued price gains require more than a strong narrative around AI and crypto. The market needs evidence that network activity can keep creating economic value for the token.

Price action now provides a useful test. NEAR needs to regain the $5.58 September high to extend the current breakout. The recent drop to $4.67 on September 28 shows how quickly sentiment can change after a steep rally.

The next question is whether new institutional access can create enough demand to support the valuation already built into NEAR’s price.

InvestingHaven’s premium crypto research can help investors assess NEAR alongside key valuation signals, market structure and price levels as the ETF begins trading.

The ETF is new, but the valuation debate has already begun.

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