Grayscale’s Near ETF Plan Progresses While Token Faces Selling Pressure
Asset supervisor Grayscale is in search of regulatory approval to transform its Grayscale Near Trust right into a spot exchange-traded fund (ETF).
The agency filed a Form S-1 registration assertion with the US Securities and Exchange Commission on January 20, marking a transfer to increase its crypto ETF product lineup.
Grayscale Moves to Convert Near Trust Into ETF With New SEC Filing
For context, the Grayscale Near Trust presently manages about $900,000 in belongings and has a internet asset worth of $2.19 per share. The product trades on the OTCQB market below the ticker GSNR.
Under the proposed conversion, the ETF could be listed on NYSE Arca. According to the filing,
“The Shares are presently quoted on OTCQB below the ticker image ‘GSNR’ and following the effectiveness of the registration assertion of which this prospectus kinds an element, the Trust intends to listing the Shares on NYSE Arca, Inc. (“NYSE Arca”) below the image ‘GSNR.’”
Furthermore, Grayscale named Coinbase Custody Trust Company as custodian for the NEAR holdings. Meanwhile, Coinbase would act because the prime dealer. The Bank of New York Mellon would function administrator and switch agent.
The submitting states that the ETF is designed to supply traders an easy and environment friendly technique to entry NEAR by a regulated funding automobile. Grayscale famous that the fund would not employ leverage, derivatives, or different comparable monetary devices as a part of its funding technique.
The asset supervisor now joins Bitwise, which also filed a Form S-1 for a Near ETF in May 2025. The newest submitting displays Grayscale’s ongoing strategic enlargement throughout the crypto ETF market.
In 2025, the corporate transformed a number of merchandise into ETFs, together with its Digital Large Cap Fund, Chainlink Trust, and XRP Trust. Grayscale now offers 9 live ETFs.
Moreover, earlier this month, Grayscale fashioned new Delaware statutory trusts for proposed BNB and Hyperliquid ETFs. These Delaware belief registrations are early steps earlier than submitting full SEC ETF applications. In addition, Grayscale is in search of approval for ETFs on Hedera, Avalanche, and Bittensor.
Nevertheless, the announcement did not generate any fast upside for NEAR’s value. BeInCrypto Markets information reveals that the altcoin declined 1.76% over the previous 24 hours, broadly mirroring the broader market downturn. At the time of writing, NEAR was buying and selling at $1.54.
NEAR’s losses are extra pronounced on a weekly foundation. Over the previous seven days, the token has shed roughly 14.3% of its worth, reflecting sustained promoting strain and cautious investor sentiment amid ongoing macro and geopolitical uncertainty.
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