NEAR Protocol price trades close to $4.97 on Bitwise spot ETF launch
NEAR Protocol price was trading at around $4.97 on September 29, down 4.62% in 24 hours but up more than 15% in the week. Bitwise launched the first U.S. spot exchange-traded product tracking NEAR. The token traded above $4.90. This launch offers investors a regulated, market-based way to gain exposure to NEAR through a traditional brokerage account. Selling pressure around the $5.00 level remains a key factor for the near-term price outlook.Bitwise Launches First Spot NEAR ETF
Bitwise said its NEAR ETF started trading on NYSE Arca Sept. 29 under the ticker NRR. The fund owns NEAR directly, allowing shareholders to gain exposure without having to purchase the cryptocurrency on a crypto exchange. The ETF has an annual management fee of 0.75% and can be traded during regular exchange hours.
The fund manager also intends to stake the NEAR tokens with its institutional team. Bitwise says the network staking rate is around 5%, though staking rewards can fluctuate. The rewards are reflected in the value of the fund, rather than a fixed cash distribution to shareholders.
The launch extends Bitwise’s single-asset crypto product line beyond Bitcoin and Ethereum. The firm also offers products linked to assets such as Solana, XRP and Hyperliquid. However, an ETF launch does not guaranty any specific amount of new capital coming into NEAR.
NEAR Intents Contribute to ETF Narrative
Bitwise has pointed to the potential role of NEAR in transactions involving AI agents NEAR Intents has processed more than $32 billion in cumulative volume, according to the company, compared to less than $1 billion about one year ago.
The growth gives Bitwise another narrative for NEAR beyond the underlying blockchain infrastructure. Greater activity through NEAR-based applications could possibly help to strengthen attention to the ecosystem, but transaction growth doesn’t necessarily mean higher token prices.NEAR Price Prediction: Will NEAR hit $5?
NEAR Protocol price hit a wall at around the $5.00 mark after a swift September rally from around $2.00 to over $5.00. NEAR was trading around $4.93 on the four-hour chart. The active candle had gained a modest 0.35%.
A sustained four hour close above $5.00 could bring $5.30 back into focus. If buyers push above that recent high, the next possible technical target identified in the outlook is about $6.00.
Momentum indicators are mixed at the moment. The four-hour RSI was at 51.57, suggesting relatively neutral momentum. Meanwhile, the MACD line was under its signal line while the histogram was in the negative showing the short-term buying momentum had faded.
NEAR Resistance and Support Levels
Traders are still eyeing the $5.00 level as the immediate area. A breakout could validate the short-term bullish setup while rejection could keep NEAR within its recent range.
If NEAR fails to retake $5.00, the price could focus on the $4.70 support area. A decisive break below could open the door to the next support at around $4.50.
The wider crypto market was up 0.69% at about $2.9 trillion, with Bitcoin at around $84,000, Ether at about $2,700, XRP above $1.50 and Solana above $120. A more solid market environment may offer some support, but maintaining key technical levels will be key to NEAR’s near-term price outlook.
