Bitwise Sets NEAR Price Target at $155 for 2030

Bitwise has filed a final prospectus with US regulators for a spot exchange-traded fund tied to NEAR Protocol (

), alongside a 39-page investment report outlining price scenarios for the token through 2030. The fund, called the Bitwise NEAR ETF, is expected to list on NYSE Arca under the ticker symbol NRR.

According to the

, filed under registration number 333-286995, the fund's primary goal is to track the value of NEAR held in trust, while a secondary objective involves generating additional NEAR through

. Bitwise Investment Advisers will charge a 0.75% annual management fee, and Coinbase Custody Trust Company will hold the fund's NEAR.

The accompanying report, co-authored by Bitwise Chief Investment Officer Matt Hougan alongside André Dragosch and Ayush Tripathi, lays out three price targets for NEAR by the end of 2030. Under what the firm calls its base case, the report projects NEAR could trade near $155. A more bullish scenario puts the figure at roughly $563, while a bearish case suggests a price of $1.63, below where the token trades today.

The projections rest on a model built around what the report calls Protocol Value Accrual, a formula that estimates future revenue from three sources: fees on token swaps routed through NEAR's network, revenue from hosting AI agent tasks, and micropayments tied to AI model training or inference. Bitwise applies a 50-times revenue multiple to that projected income to estimate a token price, a figure the firm says sits between the inflated multiples of early-stage crypto protocols and the roughly 30-times multiple implied by OpenAI's most recent private valuation.