NEAR Rises 30% as Bitwise ETP With $36 Million in Assets Gains Attention

The move linked NEAR Protocol to growing interest in AI-related crypto tokens after coverage highlighted Bitwise’s exchange-traded product holding about $36 million.

Summary

NEAR climbed 30% after attention focused on a Bitwise exchange-traded product tied to the token, with reported assets of about $36 million. The report connected the move to a broader AI token thesis, reflecting how thematic narratives can influence trading in crypto markets when investors associate a blockchain network with artificial intelligence use cases. Based on the provided content, the key facts are the 30% price jump, Bitwise’s ETP structure, and the $36 million asset figure.

Terms & Concepts
  • ETP (exchange-traded product): A listed financial product that gives investors market exposure through traditional exchanges without directly holding the underlying asset in many cases.
  • NEAR Protocol: A blockchain network designed to support decentralized applications and smart contracts (self-executing blockchain code).
  • AI token thesis: A market narrative that values crypto assets based on perceived links to artificial intelligence projects or infrastructure.