NEAR Protocol Gains Momentum Amid Growing Institutional Interest and On‑Chain Activity
The NEAR Protocol has attracted renewed attention in the wake of Bitwise’s recent filings for a series of single‑token “strategy” exchange‑traded funds (ETFs), one of which is tied to NEAR (NEAR). The filings, announced on December 31, 2025, propose that each ETF will allocate up to 60 % of its assets directly in the underlying token, with the remainder distributed across exchange‑traded products and derivative instruments. This development places NEAR among a select group of altcoins that are now being considered for direct exposure in U.S. regulatory frameworks, potentially broadening the investor base and increasing liquidity.
Market Context
The cryptocurrency market is undergoing a phase of heightened institutional scrutiny and regulatory refinement. In the week ending December 30, U.S. crypto ETFs collectively attracted $443 million in inflows, a figure driven largely by Bitwise and Grayscale’s filings for new products targeting both established and emerging tokens. Within this landscape, the inclusion of NEAR in Bitwise’s portfolio signals a vote of confidence in the protocol’s scalability, developer ecosystem, and governance model.
Financially, NEAR remains in a moderate growth trajectory. As of December 30, 2025, its closing price stood at US $1.51209, positioned well above its 52‑week low of US $1.40759 but still below its 52‑week high of US $6.21436. The protocol’s market capitalization, approximately US $1.93 billion, reflects steady demand from both retail and institutional participants.
On‑Chain Activity Highlights
Concurrent with regulatory developments, on‑chain analytics from Nansen have spotlighted NEAR as the leading network for transaction volume growth during the preceding week. The data reveal a notable uptick in user engagement across major blockchains, with NEAR emerging as a clear frontrunner in terms of transaction count and value transferred. This surge in activity underscores the protocol’s appeal to developers building decentralized applications (dApps) and to users seeking efficient, low‑cost transactions.
The rise in on‑chain activity also dovetails with the broader narrative that the NEAR ecosystem is maturing, offering a robust infrastructure for Web3 projects and a vibrant marketplace for tokens. The combination of institutional interest through ETFs and organic growth in network usage positions NEAR as a compelling candidate for investors looking for exposure to high‑growth, developer‑focused blockchains.
Market Sentiment and Risks
While the ETF filings and on‑chain momentum are positive signals, caution is warranted. Analyst Michaël van de Poppe recently cautioned that many altcoins may not survive the 2026 cycle due to structural underperformance, increasing competition, and flawed token economics. In this context, NEAR’s resilience will hinge on its ability to maintain competitive advantages in scalability, developer tooling, and governance, while navigating a potentially challenging macro‑economic environment.
Nonetheless, the current trajectory—marked by both institutional product development and tangible increases in network activity—suggests that NEAR Protocol is poised to capitalize on the next wave of crypto adoption. Stakeholders should monitor the progress of Bitwise’s ETF approvals, regulatory outcomes, and ongoing network metrics to gauge the long‑term sustainability of the protocol’s growth.
