Bitwise’s New Staking ETP Sparks 8% Rally in NEAR Protocol

NEAR Token Rallies 7.6% as Bitwise Launches Staking ETP in Europe

Investors in Europe now have access to a new staking-focused investment vehicle tied to NEAR Protocol, following the launch of a dedicated exchange-traded product (ETP) by Bitwise. The news sent NEAR’s token soaring on Wednesday, reflecting renewed institutional interest in the blockchain platform.

NEAR, a token associated with AI-enabled smart contracts and decentralized infrastructure, surged 7.6% over the last 24 hours, climbing from $2.09 to as high as $2.18. The strong move came after Bitwise announced the rollout of its NEAR staking ETP for European investors, offering exposure to both the asset’s price and its staking rewards.

Technical Snapshot:

NEAR showed a strong upward reversal from $2.09 to $2.13 between July 1 at 15:00 UTC and July 2 at 14:00 UTC.
A major breakout occurred early on July 2, with prices reaching $2.18 during the 04:00 to 06:00 UTC window, accompanied by elevated volumes of 4.56M and 3.76M NEAR respectively—well above the 24-hour average.
The price action covered a $0.16 range, representing a 7.6% gain. Support was observed at $2.02, while resistance formed at $2.17.
NEAR held steady above $2.11 near the end of the session, signaling a new support zone as buying momentum continued.
In the final trading hour (13:06 to 14:05 UTC), NEAR fluctuated between $2.13 and $2.15 before settling back at $2.13, confirming resistance at $2.15 and short-term support at $2.13.
Trading peaked at 13:48 UTC with over 131,000 NEAR exchanged, reinforcing bullish sentiment.
The token ended the day consolidating near $2.14, posting a modest 0.5% hourly gain and setting up for possible further upside.

Bitwise’s launch of a NEAR staking ETP gives investors a regulated entry point into the protocol’s staking economy. The move adds institutional credibility and has energized the token’s short-term price outlook.