Grayscale files with SEC to convert NEAR Trust into spot ETF
Grayscale has filed with the SEC to convert its Near-linked trust into a spot ETF, intending to uplist it to NYSE Arca.Summary
Grayscale Investments has submitted a Form S-1 to the U.S. Securities and Exchange Commission (SEC) to convert its existing Grayscale Near Trust into a spot exchange-traded fund (ETF). The trust, formed in November 2021 to hold NEAR cryptocurrency, will be renamed the Grayscale Near Trust ETF and uplisted from OTC trading to NYSE Arca upon the registration statement's effectiveness. Currently, the trust holds about $900,000 in assets under management and has historically traded at significant premiums or discounts to its net asset value. The filing also addresses staking, noting that the trust is currently prohibited from staking its NEAR holdings unless specific conditions are met, though it proposes a 'Provider-Facilitated Staking' model if staking is enabled later. This application marks the second active filing for a spot NEAR ETF in the U.S., following a similar submission by Bitwise in May 2025, reflecting a broader trend of issuers seeking regulatory approval for various single-asset crypto products.
(Source：The Block)