Bitwise's NEAR ETF Takes $2.61M Net Inflow for Second Straight Session

Bitwise Fund Bucked an Outflow Day

Bitwise's spot ETF tracking NEAR Protocol (NEAR), the NRR fund, took in a net $2.61 million on Oct 16, the second consecutive session in which creations outpaced redemptions in the vehicle. Issuer flow disclosures for Oct 16 show the fund was the only altcoin spot ETF on the inflow side of the ledger that day: XRP, Solana (SOL), Chainlink (LINK), Hedera (HBAR) and Zcash (ZEC) products all recorded net outflows, while vehicles covering Dogecoin, Avalanche, Litecoin, Polkadot, Hyperliquid, BNB and TRON ended flat. The NEAR price holds near $5.14, up 0.6% since the flow snapshot taken at 03:30 UTC on Oct 17 and down 1.5% across 24 hours. The outflow side concentrated in a handful of issuers, and the sums were lopsided. XRP ETFs shed $2.47 million, a second straight day of redemptions, all of it from Canary's XRPC among the five XRP funds listed. Solana ETFs bled $12.67 million, a tenth consecutive session of net outflows, with Bitwise's BSOL the only one of nine funds to see money leave. Chainlink flipped back to outflows after a single day of inflows: $397,256 left the market as Bitwise's CLNK absorbed $1.56 million while Grayscale's GLNK shed $1.96 million. Canary's HBAR fund broke a ten-session run of zero flows with $558,980 in redemptions, and Grayscale's Zcash vehicle lost $1.22 million, also for a second straight day. The five outflow categories together gave back more than $17 million, against NRR's $2.61 million gain. Elsewhere the tape was still. Hyperliquid's fund returned to flat after two sessions of outflows, Canary's TRON ETF logged a 23rd straight day without a flow, and the Litecoin product sat unchanged for a seventh session. The Dogecoin book, which has taken $16.43 million cumulatively, added nothing on either side, and the Avalanche, Polkadot and BNB vehicles were likewise flat.

The market around the flows is calm. NEAR Protocol (NEAR) trades at $5.14 inside an uptrend by our composite read, with the RSI at 55.40 and a bearish MACD signal suggesting momentum has cooled even as the structure holds. Resistance that matters sits at $5.5423, scored 82 out of 100, while support at $4.9159 carries a 91/100 rating, and neither level sits close to spot. In derivatives, the perp funding rate reads -0.0025%, a mildly negative tilt, against $493.01 million of open interest. A fuller breakdown of these levels sits in our NEAR technical analysis.

NRR's $83.05 Million Cumulative Base

NRR's daily figure sits inside a modest cumulative position. Since inception the fund has absorbed $83.05 million of net subscriptions, with $8.32 million changing hands on Oct 16 and net assets of $82.36 million, about 1.23% of the token's market cap. Our tracked market cap for NEAR Protocol (NEAR) is $6.68 billion, with $1.28 billion traded across venues over the same 24 hours, so the ETF wrapper moves only a thin slice of the asset's liquidity. Cumulative net inflow and net assets are different arithmetic: the first is the running sum of daily creations minus redemptions, the second what the fund currently holds at market value. The vehicle rolls staking yield directly into NAV, keeping its return tied to staking income as well as price, and the token is the native asset of a Layer 1 blockchain protocol. The scale contrast with the larger complexes is stark. XRP ETFs have taken $1.806 billion cumulatively and Solana $1.557 billion, while Grayscale's Zcash fund alone holds $625.34 million in net assets, 3.19% of that token's market cap. Chainlink's books hold $217.41 million in net assets, 2.35% of its token's market cap, Hyperliquid's $410.31 million, 2.31%, and Canary's HBAR fund, despite the $558,980 outflow, still carries $113.65 million cumulatively. Solana's complex also turned over $90.03 million on the day, the heaviest tape in the altcoin ETF market, yet still ended the session on the outflow side. Volume, in other words, has not been a reliable guide to direction here. Measured against those books, NRR's $83.05 million is small, which is why two straight sessions of inflows stand out: on Oct 16 it carried the entire positive side of the altcoin ETF tape. Our aggregate market data puts the Crypto Fear and Greed Index at 55. Demand stories around the token have also built elsewhere, from a NEAR whale redeploying $100 million into crypto after $29 million in profits to Bitwise CIO Matt Hougan's base case of NEAR at $155.85 by 2030. What the $2.61 million net figure does not show is its composition: the disclosure nets creations against redemptions into a single number, so the gross subscriptions behind it stay undisclosed.