NEAR price has surged as Bitwise gears up to launch its NEAR ETF on NYSE Arca and introduces a bold valuation model for the token. NEAR has reached approximately $5.45, marking its highest point in about a year, following a 48% increase over seven days. The ETF, trading under the ticker NRR, is set to provide exposure to NEAR’s value through direct holdings and staking. Bitwise’s extensive 39-page report forecasts a base-case price of $155 by 2030 and an extreme bullish scenario of $562.
Bitwise NEAR ETF Gets NYSE Arca Approval
Bitwise’s NEAR ETF has achieved a significant milestone with its approval for listing on NYSE Arca. The SEC’s registration statement became effective on September 24, with the ETF shares set to trade under the ticker NRR. The fund aims to generate additional returns through staking while holding NEAR directly. Despite the listing approval, a confirmed launch date for trading is yet to be established.
Bitwise Drops a $155 NEAR Target — and a $562 Bull Case
Bitwise’s latest 39-page investment report, co-authored by Bitwise CIO Matt Hougan, unveils a base-case target of $155 and an extreme bullish scenario of $562 for NEAR. The report also considers potential downside risks if adoption assumptions do not materialize. Comparing NEAR to established payment networks like Visa, the bullish outlook highlights NEAR’s role in the digital economy, with Visa’s payment volume in 2024 serving as a reference point for valuation.
NEAR Price Analysis: Can the Breakout Reach $6?
The NEAR/USDT price chart reflects a breakout from a multi-year descending trendline, with NEAR surpassing the $4.40–$4.60 resistance zone and approaching $5.30. A sustained move above $5.75 could set the stage for a potential rally towards $6, followed by a target range of $7–$8. Maintaining support above $4.40–$4.60 is crucial for the long-term bullish structure, while breaching this level could expose support around $3.80–$4.00.
Final Words
NEAR is gaining attention for its upcoming ETF launch and the ambitious long-term valuation projections presented by Bitwise. The $155 base case and $562 extreme bull case are based on future network adoption assumptions rather than immediate price forecasts. With the ETF launch, derivatives positioning, and the trendline breakout setting the stage, the $5.50–$6 range emerges as a key test in the near term.
