This post has a lot of details for Timers noting these parts; LMK03806, LMX2581, SN74LV8154, LMK04828; all this in TI Support Forum linked below
Q1 - 1. Is there any method so that we can measure an activity with nanoseconds resolution?
Q2 - 2. I need to measure time taken by two Bluetooth devices to send and receive 1 bit and distant 10 cm from each other. This time will be in nano second range. Measurement needs to be very precise in ns domain.
TI response answer,
Perhaps you are looking for a GHz clock? LMK03806 and LMX2581 are possible candidates.
Customer feedback to TI; to measure 1 ns time interval can u suggest how should I use these in the circuit i mean what should be other components.
Can this be used for measuring time for single bit transfer between two wireless devices which are 10 cm away.
other Customer response; Disclosure: I’m a hobby guy, not an EE. My idea can become commercial, but I have to prove the concept first 
I too need a nano (or sub-nano) second timer.
I was thinking a 10Ghz clock (or 2Ghz at least) into a 16 or 32 bit counter.
I found sn74v8154 but the datasheet (http://www.ti.com/lit/ds/symlink/sn74lv8154.pdf) says the clock duration min to be 10 nano seconds. and all the other counters I looked at had even higher mins.
Q3 - This seems like I’m making the simple complicated, but is there already an IC which counts nano seconds (or some other ultra small time slice)?
I also thought of 555 timer, but again, I can’t find a counter fast enough to handle nano second clock.
Q4 Where to go from here?
TI Response Answer,
My team does not support 555 timers and counters. However, we do have a device LMK04828 which support an external input of 3 GHz on Fin and cascaded (1-8191) and (1-32) dividers
Customer Response; I am being under the same situation and as your recommendation, I found out an evaluation board for LMK04828 as the link below.
But, I wonder it is a processor (programmable hardware) or not. In other words, Can I use it to make a nano second timer independently? Or I need a processor which connect to it and gives commands for making timer?
www.ti.com/…/lmk04828bevm
TI Response Answer, LMK04828 device supports SPI interface for register programming.
Details for this post are found in TI Support Forum here.