Bitwise Chief Investment Officer Matt Hougan expects NEAR Protocol to experience substantial growth as artificial intelligence drives blockchain adoption.
His bullish outlook centers on autonomous AI transactions and rising demand for cross-chain settlement services.
However, Hougan believes NEAR’s existing blockchain operations could support its long-term valuation without widespread AI adoption. Meanwhile, Bitwise’s recently launched NEAR ETF offers investors additional exposure to the cryptocurrency.
Bitwise predicts NEAR price could reach $155.85 by 2030
Hougan said Bitwise’s base-case forecast places NEAR at $155.85 by 2030, representing approximately 40-fold growth.
The firm’s optimistic scenario projects $562.81, exceeding a 100-fold increase. However, its bearish outlook suggests NEAR could decline to $1.63.
Hougan argued that even a 40x to 50x increase would leave NEAR’s valuation below Ethereum’s current market capitalization.
Milk Road Crypto questioned whether agentic finance infrastructure could eventually command a valuation comparable to Ethereum’s during a bear market.
Hougan responded that such a comparison was reasonable, given the potential demand for autonomous financial settlement systems.
Bitwise’s base-case model assumes 328 million AI agents complete 1,000 annual transactions, each averaging $5.
The firm applies a 0.3% transaction fee and a 50x valuation multiple to support its projection.
AI Agents could drive NEAR protocol adoption
Hougan believes autonomous AI agents could create additional demand for NEAR’s blockchain infrastructure.
These systems could independently handle payments, trading, service bookings, and digital asset management without direct human involvement.
NEAR Intents supports cross-chain transactions, allowing users and applications to exchange assets without navigating individual blockchain networks.
The protocol’s chain abstraction technology could also help AI agents move funds between applications and settle transactions.
However, Hougan emphasized that NEAR does not need to dominate the emerging AI economy to maintain its investment case.
According to Hougan, NEAR Intents has already processed nearly $30 billion in cross-chain transactions.
He argued that existing network activity provides a foundation for growth even if AI adoption falls short of expectations.
Hougan also identified NEAR among smaller-cap cryptocurrencies offering practical blockchain applications alongside long-term growth potential.
Speaking on The Rollup podcast, Sovereign CEO Sal Ternullo said user activity increasingly appears connected to NEAR’s token value.
Bitwise launches spot NEAR ETF with staking rewards
Bitwise Asset Management launched its spot NEAR ETF on NYSE Arca in late September under the ticker NRR.
The fund offers US investors regulated exposure to NEAR without requiring direct cryptocurrency ownership or wallet management.
It charges a 0.75% annual management fee and allows investors to earn staking-related returns.
Bitwise’s internal staking team manages the underlying assets, while staking rewards contribute directly to the fund’s net asset value.
On-chain data from September 25 indicated an estimated annual staking yield of 5.3%, although returns remain variable.
According to Bitwise’s prospectus, service providers receive 33% of gross staking rewards, leaving the trust with 67%.
Investors remain exposed to NEAR price fluctuations, changing staking yields, management fees, and staking-related expenses.
Hougan said expanding AI-powered financial activity would increase demand for secure, independent blockchain settlement infrastructure.
