NEAR Protocol has been added to several Bitwise large-cap crypto indexes in the scheduled October 30 rebalance, announced on October 22. In the Bitwise 10 Large Cap Crypto Index and its ex-Bitcoin version, NEAR replaces Uniswap (UNI), while in the Bitwise 10 Select Large Cap Crypto Index it replaces Avalanche (AVAX). Separately, Litentry (LIT) replaces ether.fi (ETHFI) in Bitwise’s decentralized-finance index. No rebalance was scheduled for the BTC/ETH Equal Weight index.
The Bitwise 10 is a common benchmark for institutional investors, and the related fund is billed as the largest crypto index ETF. However, the benchmark change does not by itself guarantee immediate price moves. Index additions can create demand from products tracking the benchmark, but actual flows depend on assets under management, target weights and execution. Bitwise’s notice defines the reference portfolio, not completed purchases or fund trades. Index removals carry the same analytical limits and do not automatically signal that a token has failed.
Market reaction has been muted. NEAR nearly doubled in October before a sharp correction: it fell more than 14% on October 29 from about $4.73 to near $4.06, then slipped another 4% on November 1. At the latest check NEAR traded near $4.24, below the 50-day moving average around $4.31, with RSI near 44 and MACD below its signal line. Resistance sits near $4.81 and $5.52, while support is thin until around $2.73, with the 200-day average near $2.94.
The inclusion is a concrete adjustment to Bitwise’s reference portfolios and may widen NEAR’s institutional investor base over time, but the short-term trend remains controlled by sellers until a daily close above the 50-day average occurs.
