Grayscale Recordsdata to Convert NEAR Belief Into Spot ETF

The proposed ETF would maintain NEAR instantly, aiming to cut back premiums and reductions seen within the present belief.

Grayscale has filed an S-1 registration assertion with the US Securities and Alternate Fee (SEC) to transform its present Grayscale Close to Belief right into a spot NEAR exchange-traded fund (ETF) listed on the NYSE Arca.

The transfer is the most recent in a continued push by main asset managers to broaden the crypto ETF market past flagship property like Bitcoin (BTC) and Ethereum (ETH) right into a broader vary of altcoins.

Particulars of the Proposed ETF Conversion

The submitting, first flagged on X by ETF Rumour’s Henry Jim on January 20, outlines plans to uplist the Grayscale Close to Belief below the ticker GSNR on NYSE Arca, pending SEC approval.

The product at the moment trades over-the-counter and was launched in Might 2024 as a personal car earlier than opening to public buying and selling in September 2025.

Underneath the proposal, the belief can be renamed Grayscale Close to Belief ETF and function as a passive product holding NEAR tokens instantly. Shares can be created and redeemed in blocks of 10,000 by means of approved members, utilizing an in-kind and money mechanism designed to maintain costs nearer to internet asset worth.

The belief at the moment carries a 2.50% expense ratio, with ETF charges nonetheless to be introduced. Information from the Grayscale web site exhibits that as of January 21, the product was managing about $900,000 in property, with shares buying and selling at about $2.85 and the reported NAV sitting close to $2.19. Grayscale has acknowledged that the belief has typically traded at sizable premiums or reductions, a problem the ETF format goals to cut back.

The prospectus additionally outlines non-compulsory staking, though it stays inactive. Staking would solely start if particular regulatory and tax circumstances are met, and Grayscale retains discretion over whether or not to pursue it.

You may additionally like:

NEAR Value Motion

Wanting on the market, the ETF submitting has didn’t set off a direct value response, suggesting merchants could also be cautious about timing and approval odds. On the time of the submitting, NEAR was buying and selling round $1.53, reflecting a 69% dip over the earlier yr and a drop of about 17% up to now week.

This value context is related for the proposed ETF, as its worth will probably be instantly tied to the often-volatile spot value of NEAR.

Grayscale’s transfer is a part of a broader pattern of asset managers looking for regulatory approval for altcoin-focused ETFs. In late December 2025, competitor Bitwise filed for 11 single-asset crypto ETFs focusing on tokens together with Aave (AAVE), Uniswap (UNI), and Sui (SUI).

That submitting, which additionally included NEAR as considered one of its targets, was famous by ETF analyst Eric Balchunas as proof of issuers racing for a first-mover benefit. Moreover, the success of current Ethereum and Solana ETFs, which noticed document buying and selling volumes in early January 2026, has seemingly inspired this wave of recent filings.